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Wed Aug 1, 2012, 11:28 AM

Australia: Carr signs uranium deal with UAE

AUSTRALIA has agreed to sell uranium to the United Arab Emirates as one of the Middle East's richest oil kingdoms switches to nuclear power.

The Foreign Affairs Minister, Bob Carr, signed a safeguards agreement in Abu Dhabi yesterday, intended to guarantee Australian uranium is only used for peaceful purposes.

The deal, potentially worth up to $200 million in yellowcake exports, follows the controversial shift by the Prime Minister, Julia Gillard, last year to overturn Labor's ban on uranium sales to India.

Read more: http://www.smh.com.au/national/carr-signs-uranium-deal-with-uae-20120801-23fo8.html#ixzz22JCco1OJ

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