India, Australia Trading A Long Way Off

The Australian reported uranium trading between Australia and India is likely a long way off.

As quoted in the market news:

Australia’s new willingness to sell uranium to India is more about snuggling up to Asia’s third largest economy than any actual nuclear commerce. It is highly unlikely that Australian uranium will be powering Indian nuclear reactors in this decade.

India’s 20 operating reactors, spread across six sites, have an installed capacity of 4.8 gigawatts (GW) and consume about 1000 tonnes of uranium a year. With New Delhi setting revised goals of boosting nuclear output to 14.4 GW by 2020 and between 27.5 and 63 GW by 2032, the decision by the Gillard government to allow uranium sales to India seemingly presents an opportunity for Australian producers BHP Billiton, Rio Tinto, Heathgate Resources and Uranium1.

Click here to read the full Australian report.