china ready to sign uranium deal!!!

China ready to sign uranium deal

CHINA has signalled it would agree to stringent safeguards allowing it to buy uranium from Australia.
Australia was expected to sign a deal with China this week, which will open the door to future uranium sales and likely pressure states to allow more uranium mines beyond Labor's national three mines policy.

Australia, which has about 40 per cent of the world's known uranium reserves, is keen to supply uranium to the Asian powerhouse as long as it adheres to strict criteria.

Chinese Premier Wen Jiabo has met Chinese and Australian officials in Perth today, the first day of a four-day visit to Australia.

"In our bilateral cooperation we should establish a long-term, stable and fundamental institutional and systematic safeguard," Wen said to a briefing of Chinese and Australian officials in Perth.

"Our energy and resources cooperation is ensured by such a safeguard and during my visit to Australia this time the two governments are going to sign the agreement for peaceful use of nuclear energy and safeguards of nuclear energy," he said through an interpreter.

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Australian Prime Minister John Howard said earlier today that the rules governing uranium sales were rigorous and he did not expect China to ignore them.

"China is wanting world acceptance in so many ways," Mr Howard told the Ten Network.

"China sees herself as projecting influence and authority in the region – that's understandable given her size ..."

He said he did not think China was going to lightly give up the fairly hard-won reputation that she's trying to acquire

"The safeguards that we have adopted are very rigorous and unless we are going to declare to the world that we're not going to deal with anybody, then ... in relation to uranium we have to assume a certain degree of good faith."

Wen will meet Mr Howard in Canberra tomorrow.

His first official engagement was a meeting with federal Industry and Resources Minister Ian Macfarlane and he later inspected an iron smelter in an industrial area south of Perth.

Earlier today, Mr Howard said the deal to sell uranium to China would involve strict safeguards, warning the Asian superpower should not expect any special treatment.

Wen is the first Chinese premier to tour Australia since 1988 and the most senior official since President Hu Jintao visited in October 2003.