During Prime Minister Modi's visit to Australia, the two countries signed an
agreement allowing Australia to sell uranium to India for power generation.
India's foreign ministry said purchases will be used "only for peaceful
purposes." The statement gave no volumes or timing. Australian Prime Minister
Albanese said an administrative arrangement was signed to facilitate uranium
exports to help raise the share of non-fossil fuel power and provide an
additional market for Australia's resources sector. Australia holds the world's
largest uranium reserves but has only three operating mines, all in South
Australia.
