Decade to satisfy China's demand for our uranium

[jpak]

http://www.theaustralian.news.com.au/common/story_page/0,5744,18672765%255E2702,00.html

AUSTRALIA is years away from being able to supply China with the 20,000 tonnes of uranium it is expected to import each year by 2015.

Resources Minister Ian Macfarlane, who will tomorrow brief Chinese Premier Wen Jiabao in Perth on Australia's trade, said it was unlikely there would be a new uranium mine in Australia before the end of this decade.

Officials from both countries were working last night on the final details of an agreement that would allow China to buy Australian uranium and explore for the energy material to feed its nuclear power industry.

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"China is expected to be importing 20,000 tonnes of uranium within 10 years, which gives us a great opportunity to supply that demand if we can finalise an agreement," Mr Macfarlane said yesterday. "But turning the agreement into firm mines will take some time."

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