Australia to sell uranium to India after years-long delay

Australia will begin selling uranium to India for peaceful purposes after the two countries signed an administrative agreement to implement a long-delayed export deal that had been held up by concerns over possible weapons use.

Australian Prime Minister Anthony Albanese and Indian Prime Minister Narendra Modi announced the agreement after talks in Melbourne on July 9, Caliber.Az reports, citing foreign media. 

The leaders did not provide details on the amount of uranium to be sold or when exports would begin.

Uranium shipments to India stalled after a 2014 agreement as Australia raised concerns over nuclear proliferation. Canberra later agreed to allow exports under International Atomic Energy Agency safeguards and the “separation of the Indian civilian and military nuclear programs.”

Australia has the world’s largest known uranium resources, while India is seeking to expand nuclear power capacity as part of a plan to install 100 gigawatts of nuclear energy by 2047. Nuclear power currently accounts for about 3% of India’s electricity generation.

India is not a signatory to the Nuclear Non-Proliferation Treaty, which has historically restricted uranium trade. However, a 2008 waiver from the Nuclear Suppliers Group allowed India to buy uranium from member countries.

The two leaders also pledged closer defence and security cooperation in the Indo-Pacific, describing the relationship as “reflecting a step-change in the depth and ambition” of bilateral ties.

India is Australia’s fifth-largest trading partner, with two-way trade in goods and services valued at 54.4 billion Australian dollars ($37.7 billion) in the 2024-2025 financial year, according to Australian government figures.

By Aghakazim Guliyev