Australia, home to the world’s largest uranium reserves, could drop its ban on selling the yellowcake to India after a panel commissioned by Prime Minister Kevin Rudd and his Japanese counterpart Yukio Hotoyama recommended changes to the nuclear non-proliferation regime.
Adopting a fresh approach, the International Commission on Nuclear Non-Proliferation and Disarmament suggested that Australia could give India access to its uranium provided “equivalent disciplines” were applied to help meet disarmament obligations.
Australia’s uranium reserves are the world’s largest, accounting for 23 per cent of the total.
The panel’s report suggested that three nations not covered by NPT treaty — India, Pakistan and Israel– should sign up to “parallel instruments” designed to ensure they did not divert civilian nuclear materials to military use that will pave the way for them to access uranium and other nuclear materials and technology.
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