POTENTIAL URANIUM SALES TO UKRAINE

The Minerals Council of Australia’s Uranium Forum welcomes the Prime Minister’s consideration of possible future uranium sales to Ukraine.

Ukraine is already a stable market for uranium and there is considerable potential for growth.

Ukraine is a substantial user of nuclear energy generating more than 40 per cent of its electricity from the technology.  It has 15 operating reactors with more than 13 GW of capacity, another two reactors planned and a further 11 proposed.

The industry supports all government efforts to facilitate access to new markets for Australian uranium under strict bilateral agreements that ensure it is used only for peaceful purposes.

In 2013-14, Australian uranium exports were around 10 per cent of the world’s uranium requirements.  Our large resource base, representing around 31 per cent of the world total, and a growing global market for low emissions electricity, underpin a great opportunity for industry expansion, additional export revenue and growing employment in coming years.

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