In an interview with Bloomberg, Treasurer Peter Costello said Australia will consider allowing Chinese companies to invest in uranium exploration, and plans to become a “major exporter” of the nuclear fuel.
”I wouldn't rule it out,” Costello told Bloomberg when asked about Chinese investment in exploration. “If we thought it was a new investment, which would add to Australia and we were confident that all the nuclear safeguards would be met, and that it was in the national interest, we would allow it.”
Australia holds about 40 percent of the world's known low- cost uranium reserves. Demand for the nuclear fuel is rising as countries look to alternatives for gas, oil and coal. Australia in April signed an agreement allowing uranium exports to China, which needs to build two reactors a year to meet its target of generating 4 percent of its power from nuclear plants by 2020. . . .
”I wouldn't rule it out,” Costello told Bloomberg when asked about Chinese investment in exploration. “If we thought it was a new investment, which would add to Australia and we were confident that all the nuclear safeguards would be met, and that it was in the national interest, we would allow it.”
Australia holds about 40 percent of the world's known low- cost uranium reserves. Demand for the nuclear fuel is rising as countries look to alternatives for gas, oil and coal. Australia in April signed an agreement allowing uranium exports to China, which needs to build two reactors a year to meet its target of generating 4 percent of its power from nuclear plants by 2020. . . .
