Australia should embrace India's hunger for uranium, says former diplomat

Last Updated: Fri, Apr 26, 2013 10:25 hrs

A former top diplomat has said Australia should let India invest in Australian uranium.

Former Australian deputy high commissioner to India Rakesh Ahuja said Australia's uranium industry was a missing link in India's energy resources sector.

According to the Age, Indian companies have bought large swathes of land in Queensland, including food-producing farms, for coal mines, and foreign investment in uranium mines would be equally controversial

He said that Australian uranium companies should be preparing for the opportunity as India spends hundreds of billions of dollars shoring up energy security.

Ahead of speaking at the Paydirt 2013 Uranium Conference in Adelaide on Monday, Ahuja said that the Australian uranium industry can play a major role in satisfying India's hunger for energy resources, and thus promote Australia's long-term economic and political interests.

According to the report, the Queensland state government dumped a long-held ban on uranium mining last year, amid claims from Premier Campbell Newman that the state had 10 billion dollars in known deposits.

Ahuja said that, with India highly dependent on imports of oil, gas and coal as well as uranium for energy security, the implications for Australia could not be ignored.

Australia's known uranium resources are the world's largest and it is the world's third-ranking producer but uses no nuclear power itself for electricity, the report added. (ANI)

More from Sify: