CANADA TO EXPORT URANIUM FOR INDIA NUCLEAR

11/12/2012

India and Canada finalized the terms of their nuclear deal, allowing Canadian firms to sell uranium to India. A 1976 ban on the trade of nuclear materials with India, enacted after the nation used Canadian nuclear technology to build its first atomic bomb in 1974, previously halted the trade of Canada's large uranium resources, but India won an exemption in 2008 from the Nuclear Suppliers Group to trade nuclear supplies and technology despite not signing the nuclear Non-Proliferation Treaty. India and Canada agreed to the deal in 2010, but it was delayed by differences over supervision of uranium in India. India is planning to set up around 30 reactors and get a quarter of its electricity from nuclear in 2050, and increasing nuclear energy is crucial to its plans to meet rapidly growing power demands. Last year, India agreed to a deal that will allow South Korea to export its uranium, and the nation recently began negotiations with Australia, which holds about 40% of the world's uranium reserves. For the full story, see http://www.bbc.co.uk/news/business-20231759 and http://www.ibtimes.com/canada-export-nuclear-supplies-india-862400.