Australia and India reach uranium export agreement, further advancing India's nuclear energy expansion

Golden Ten Data reported on July 9 that during Indian Prime Minister Modi’s visit to Australia, the two countries signed a milestone agreement, with Australia agreeing to sell uranium to India for electricity generation. In a statement issued on Thursday, the Ministry of External Affairs of India stated that India's purchase of uranium will be “for peaceful purposes only.” The signing of the agreement comes as India seeks to boost its nuclear energy capacity. The statement did not provide details on how much uranium India will purchase or a specific timeline. At a joint press conference held in Melbourne, Australian Prime Minister Albanese said: “Today, we are able to confirm the signing of administrative arrangements to advance uranium exports. This arrangement facilitates the export of Australian uranium to India to help increase the share of non-fossil fuel electricity generation and provides an additional market for Australia’s resources industry.” Although Australia has the world’s largest uranium reserves, currently, only three mines are operational, all located in South Australia.