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« Uranium: Queensland and WA to be mined? | Main | Crosshair Exploration and Mining Corporation: No sign of recovery! »

Russia signs uranium agreement with Australia

Putin 07sep07
One of our readers in New Zealand alerted us this article, which she spotted on tvnz. This news had been trailed on many other news outlets but never the less it does raise some interesting questions.

To quote the report:

“Australian Prime Minister John Howard and Russian President Vladimir Putin have signed a deal for Australia to sell uranium to Russia.

The two leaders signed the deal after talks in Howard's Sydney office on Friday, ahead of a joint press conference.

Putin, the first Russian leader to visit Australia, flew in to Sydney on Friday morning to attend the APEC summit of world leaders.”

Our first thought is just where is this uranium coming from, the existing three mines or to meet the demand will there be a relaxation of the three mine ruling thus allowing uranium mining activity to expand. If so this can only be good news for the like of Mega Uranium, Laramide et al.

Russia has done well to complete this deal and secure a supply of uranium for its nuclear energy needs. The question we have is how long will it be before other countries wake up to the nuclear future and beat a path to Australia’s door looking to do the same.

We see it as been difficult for Australia to refuse such requests. There is the political and trading relationships with other countries to consider and the income that Australia would generate is also not be sneezed at. The same goes for New Zealand.

Have a good one.

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