UAE to take Australia uranium

Australian uranium will be exported to the Middle East for the first time after an agreement with United Arab Emirates came into force.

United Arab Emirates has become the first Middle Eastern nation to take Australian uranium.

Trade Minister Andrew Robb met with UAE foreign minister Sheikh Abdullah in Abu Dhabi to witness a 2012 agreement entering into force.

The UAE aims to set up four nuclear power plants by 2020.

Mr Robb said the UAE is a responsible user of nuclear energy for civilian purposes and the deal will open up a new long-term market for Australian uranium producers.

Australia exported 8391 tonnes of uranium in 2012/13, worth about $823 million.

From 2020, the UAE aims to import about 800 tonnes a year.

The agreement negotiated by the former Labor government in 2012 covers the safe handling and security of radioactive material, restrictions on re-export and guarantees of use for peaceful purposes.

It bans the use of Australian nuclear material for weapons or explosive devices.


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Source: AAP


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