Antinuclear

Australia’s Queensland state seeks investment from Indian firms in uranium mining Business Today Anilesh S Mahajan      August 29, 2014   A week before Australian Prime Minister Tony Abbott lands in New Delhi on his first trip to India, the Australian state of Queensland is soliciting investments from Indian companies to mine uranium…….

At a select media briefing, the state’s trade and investment commissioner for South Asia, Parag Shirname, said that there are two-three Indian corporate houses that are keenly looking at getting the mining license, once the deal is reached. “We have already briefed them about the regulatory frameworks, geological data and the attorney firms. They are exploring the opportunity,” he said. Shirname refused to divulge the names of these corporate houses citing non-disclosure agreements. ……

ith Indian investments, the government there is expecting production to go up about 30 per cent by 2017, from 6,976 tonne in 2011. The Queensland government restarted the process of giving out mining licenses from July this year, after a moratorium of 25 years.

India has already concluded civil nuclear cooperation agreements with Argentina and Kazakhstan, and a similar contract with Canada is in final stages……

As per Canadian law, Indian companies can take only 49 per cent of equity in a uranium mining company……..”There are no such conditions if they come to Australia,” Shirname said.

Modi, on his visit to Japan , is expected to sign a nuclear deal with Japan, which will not only smoothen the investment of Japanese companies in setting up of nuclear plants, but will also help the US treaty to be enforced as most US nuclear equipment companies either have Japanese investments or they work in conjunction. http://businesstoday.intoday.in/story/ausstralia-iqueensland-investment-in-india-tony-abott/1/209829.html