Australia may resume uranium sales to France

The Australian federal government plans to resume uranium exports to France, according to a budget speech delivered in August.

“The government put economic rationality ahead of factional passion by declaring Australia could no longer afford the cost of not exporting uranium to France,” says Nukem, a West German uranium marketing and consulting organization.

The Australian government’s decision was made in light of the need to cut spending and increase revenues. The government hopes to gain $66 million(A) in 1986-87 by abandoning the embargo. About $25 million would be saved by not purchasing uranium from Queensland Mines during the period and a further $41 million would come from sales of uranium bought by the government from Queensland as a result of the ban on exports to France.

The budget is only a proposal by the government and must be approved by the Australian House of Representatives and Senate. While the labor party forms the government, the Democrats hold the balance of power in the Senate so it is not clear whether the proposal will pass.