Gillard notes support on Oz uranium export to India
IRJ – October 15 –News that Australian Prime Minister Julia Gillard will seek to support lifting the ban on uranium exports to India was reflected in the market as shares in Aussie miners operating within the mining sector rose, Tuesday.
Writing in The Age, Gillard said that she will pursue the issue and move for a policy change when Labor stages its national conference in December. She also described the current zero export policy as an “all pain with no gain” situation for her nation’s economy.
“As in other areas, broadening our markets will increase jobs. We must, of course, expect of India the same standards we do of all countries for uranium export - strict adherence to International Atomic Energy Agency arrangements and strong bilateral undertakings and transparency measures that will provide assurances our uranium will be used only for peaceful purposes,” she said.
Among the companies whose shares surged, are Deep Yellow (rising 28 per cent to 16 cents), Extract Resources (up 1.69 per cent to $7.83) and Paladin Energy (up 3.42 per cent at $1.665) within the day.
Pakistan also reacted quickly to the news, stating that if Australia is prepared to supply uranium to India, it should be in the position to export to them as well.
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