Australia may begin shipping uranium to China within the first half of 2007, according to John Carlson, director-general of the Australian Safeguards and Non-Proliferation Office, who testified before a Senate committee in September 2006.
Once a bilateral agreement is ratified, Australia could earn roughly 250 million Australian dollars (about 187 million US) annually from uranium exports to China. Carlson told senators that Australia, home to the world's largest known uranium reserves, could realistically supply around one-third of China's future nuclear fuel needs.
China has announced plans to construct 28 new nuclear reactors. By 2020, its annual uranium demand is projected to reach approximately 8,000 tonnes, a figure close to Australia's current total output.
Carlson noted that no material could be transferred until all agreements were finalized, which Canberra hoped to complete by year's end. The timing of actual shipments would also depend on commercial contracts and whether the uranium is processed in third countries before reaching China.
Australia secured commitments from Beijing that the uranium would not be diverted to weapons programs. Oversight of Chinese nuclear facilities remains the responsibility of the International Atomic Energy Agency, with no direct Australian inspection role.
Historical summary. TurkishPress restated this wire report, first published in September 2006, in its own words.