Federal Resources and Energy Minister Martin Ferguson believes that Australia should increase both uranium mining and exports in order to meet China’s expected nuclear energy expansion.
Speaking from Beijing, Ferguson said that after the first shipment of Australian uranium arrived in China last November, discussions have shown that Chinese demand will increase.
“The expansion of the nuclear industry here in China opens up new resource opportunities in Australia from the point of view of uranium mining,” Ferguson said.
“We are, as a nation, a leading nation in terms of uranium mining.
“We should be actually mining more than we are at the moment.”
Ferguson believes that continued uranium exploration has put Australia in a good position as the world’s nuclear energy industry continues to grow.
“There has been considerable exploration across Australia in terms of the uranium industry over recent years,” he said.
“It will expand, and it also will expand at a time at which we expect an increased demand for uranium internationally.”
Australia would only sell uranium to China with the assurance that it would only be used for civil nuclear energy purposes and was not stockpiled, Ferguson said.