Uranium to India

[ekman]

Looks like cabinet will approve uranium sales to india. Which aussie company do you think will be first one off the block to take advantage of this. I am thinking of AGS, ERA, RIO, PDN(thru Summit - although QLD govt is against everything U)
I am thinking of investing in one of these so your thoughts would be very helpful.

 

[Fab]

Looks like cabinet will approve uranium sales to india. Which aussie company do you think will be first one off the block to take advantage of this. I am thinking of AGS, ERA, RIO, PDN(thru Summit - although QLD govt is against everything U)
I am thinking of investing in one of these so your thoughts would be very helpful.

I personally own AGS and PDN so they have not had a good run in the last couple of weeks. I still believe they are good U stocks. Maybe a good price at the moment to get in.
Do you know when the decision to sell Uranium to India will be announced as this should help some of the U stocks to recover?

 

[R0n1n]

Do you know when the decision to sell Uranium to India will be announced as this should help some of the U stocks to recover?

Just saw this :

Australian uranium bound for India

-Aussie inspectors must be allowed on site
-Two-hour debate in Cabinet
-PM to contact Indian counterpart

AUSTRALIA has decided to start uranium shipments to India with the condition that Australian inspectors be allowed to check on-site that the yellowcake is used only for peaceful purposes and electricity generation.

The Australian nuclear safety inspectors would check the "chain of supply" of nuclear material from Australia to India to ensure none was siphoned off into weapons programs.

The National Security Committee of federal cabinet decided last night, after more than two hours, to allow the uranium shipments to India, despite the subcontinental nuclear power not signing the international Nuclear Non-Proliferation Treaty.

Australia has only recently decided to ship uranium to China for the first time.

The National Security Committee discussed ways for Australia to export uranium to India without contributing to nuclear tensions between India and Pakistan or assisting the spread of nuclear weapons.

John Howard will contact his Indian counterpart Manmohan Singh, who is also Minister for Atomic Energy, to explain the conditions before formally announcing the agreement.

The cabinet committee was under pressure to both allow India access to uranium - a process the US has offered to assist with - and defend its record on the non-proliferation of nuclear weapons.

It is understood Mr Howard will be personally contacting Mr Singh as soon as possible.

Labor has accused the Howard Government of being prepared to water down strict controls on uranium exports and move away from the international agreements limiting nuclear weapons.

Pakistan has also asked for uranium to power its domestic electricity grid if India is sold it.

The Australian Government wants to help India with its peaceful energy needs but does not want to contribute to the nuclear tensions between India and Pakistan.

The decision comes as the ALP has committed to a scare campaign over nuclear power reactor sites in Australia.

Foreign Minister Alexander Downer said yesterday the fact India already had nuclear weapons meant "there is no risk" of contributing to nuclear proliferation by exporting uranium to the energy-hungry economy.

"I think the reverse in fact is the case - that the more you can get the India civil nuclear program under UN inspections and under the UN protocols of the International Atomic Energy Agency, the better," Mr Downer told the ABC. "I think that creates a safer and more secure environment for those power stations."

Labor foreign affairs spokesman Rob McClelland said any step towards uranium exports to India would be moving away from the NPT signed by Australia.

"We see that the Government is prepared to further undermine the NPT by selling uranium to India while that country remains outside the non-proliferation regime," he told the UN Association of Australia last night.

"The bottom line is that the Howard Government is worse than ambivalent when it comes to nuclear non-proliferation - it is positively obstructive."

Even the uranium industry has reserved judgment on the Government's support for uranium exports to India until it hears how the NPT can be protected.

Michael Angwin, executive director of the Australian Uranium Association, said Australia's policy of exporting uranium only to signatories to the treaty had been successful to date.

India now needs to win IAEA approval of its planned safeguards, the support of an international grouping of nuclear suppliers, and ratification of its nuclear co-operation agreement with the US. Only then can it do a bilateral deal with Australia to allow the uranium trade and start negotiating with local miners.

Last week Pakistan's Minister for Religious Affairs, Ejaz ul-Haq, said Australia should consider selling uranium to Pakistan as well. He rejected concerns Islamabad would use the uranium in nuclear weapons.

But Mr Downer ruled out selling uranium to Pakistan.

SOURCE: http://www.news.com.au/story/0,23599,22246943-2,00.html

 

[Wysiwyg]

Even the uranium industry has reserved judgment on the Government's support for uranium exports to India until it hears how the NPT can be protected.

Yes , as a citizen of the world I think it is necessary for India to be part of this treaty ........no join , no uranium!

The Treaty on the Non-Proliferation of Nuclear Weapons, also Nuclear Non-Proliferation Treaty (NPT or NNPT) is an international treaty, opened for signature on July 1, 1968 to limit the spread of nuclear weapons. There are 189 states party to the treaty. Only four states are not. Two (India and Pakistan) out of eight confirmed nuclear powers (i.e., those who have openly tested nuclear weapons), and one presumed nuclear power (Israel) neither signed nor ratified the treaty. One further nuclear power, (North Korea) ratified the treaty, violated it and later withdrew.

Country Warheads active/total* Year of first test
Five nuclear weapons states from the NPT
United States 5,735/9,960[3] 1945 ("Trinity")
Russia (formerly Soviet Union) 5,830/16,000[4] 1949 ("RDS-1")
United Kingdom 200[5] 1952 ("Hurricane")
France 350[6] 1960 ("Gerboise Bleue")
China 130[7] 1964 ("596")
Other known nuclear powers
India 70-120[8] 1974 ("Smiling Buddha")
Pakistan 30-52[9] 1998 ("Chagai-I")
North Korea 1-10[10] 2006 (The Beginning)[11]
Undeclared nuclear weapons states
Israel 75-200[12] none or unknown or 1979 (See Vela Incident)

 

[Spaghetti]

Could perhaps be a gross error to go outside the proliferation treaty, Lose all moral highground on the issue. Of some concern, not toward India but toward saying anyone can provide anyone with uranium. If they do something evil with it I will disagree says Downer? And we pay this guy?

 

[Wysiwyg]

Could perhaps be a gross error to go outside the proliferation treaty, Lose all moral highground on the issue. Of some concern, not toward India but toward saying anyone can provide anyone with uranium. If they do something evil with it I will disagree says Downer? And we pay this guy?

Something like a double edge sword ,the uranium issue.Agree spag....the standard has to be for every country because nuclear affects everyone.

 

[eMark]

Just saw this :



SOURCE: http://www.news.com.au/story/0,23599,22246943-2,00.html

So is it agreed to, or not?

Personally I don't think it will make much short term difference to the SP's of AGS, PDN etc. One because I own them and two because the sentiment is so heavily negative at the moment.

Also it's looking like a Federal Labour government will form later in the year, that can't be good for Uranium either