on the move again, page-19

This article is interesting - looks like the uranium price will keep on rising


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European Union wants bigger slice of yellowcake

* Nigel Wilson, Energy writer
* April 12, 2007

THE European Union wants a share of Australia's future uranium sales, rather than be closed out of the billion dollar market by China and India.
It is arguing that Europe, as a strong supporter of the Nuclear Non-Proliferation Treaty, is a reliable consumer of uranium compared with other countries.

Last year Prime Minister John Howard and Chinese Premier Wen Jiabao signed an agreement under which Australia will sell uranium to China for power generation, while India has been pressing Australia to lift its ban on uranium sales to countries that are not signatories to the treaty.

EU ambassador Bruno Julien told West Australian Premier Alan Carpenter yesterday that while the state's ban on uranium mining was an internal political matter, Europe had to rely on nuclear power for matters of energy security and climate change.

Mr Carpenter reiterated at the meeting there would be no uranium mining in the state while he was Premier.

Mr Julien said the EU needed energy security because energy was a very important source of competitiveness for its 27 member countries, with their 480 million consumers.

Fifteen of the 27 EU member states are already using nuclear energy and it is moving towards an integrated energy policy, though nuclear energy is a matter for individual members to decide.

Mr Julien said Australia, with about 30 per cent of the world's low-cost uranium reserves, was important as a supplier.

"We need energy supply from reliable providers and you know that some of the providers of energy right now are unstable countries," he said.

"So we need to have diversity of countries supplying energy and also of sources of energy.

"In addition to that, one of our major problems we are trying to fight against is climate change."

Europe sources about 30 per cent of its energy from nuclear power.

Mr Julien said the European Council decided earlier this year to reduce greenhouse gas emissions by 20 per cent, which could increase the requirement for nuclear energy.

"We have to consider that having diverse sources of supply and diverse sources of energy should certainly include uranium," he said.

"What I want to secure is a source of supply, and that all of your uranium is not going to India or China and we can have our share of the cake."

Mr Julien said the EU was willing to adhere to full application of the Nuclear Non-Proliferation Treaty.

"We are a signatory and we think it is very important that we are a very reliable user of resources