Sanjay Jog reports that Australian uranium company Toro Energy is engaged in talks with the Indian public and private sector companies for a possible tie-up in uranium supply, trading and transfer of skill and knowledge strengths in uranium mining. In an interview, Toro Energy Managing Director Vanessa Guthrie, who is also a leading member of the India-Australia Prime Ministers CEO Forum participating in the Australia Business Week here, spoke on a number of issues.
She was asked to comment on the progress made by India and Australia after signing the civil nuclear cooperation agreement in September last year.
Signing of the civil nuclear agreement in September last year was really a watershed for the Australian uranium sector. It has provided Toro with an opportunity to open a new market in India. With the deal in place, Toro can now build on negotiations for the Free Trade agreement between the two countries and make sure that the relationship is reconnected.
For Toro Energy, the opportunity is exciting. She indicated that Toro is currently focused on the development of a flagship Wiluna uranium project, for which the company has secured mining approval and also clearance for starting the construction. We are ready to bring the product to India. India offers a very significant opportunity for sales of Australian uranium.
Have you initiated discussions with Indian public and private sector companies for a joint venture?
Australia has started talks to build relations with the Nuclear Power Corporation of India Ltd and Uranium Corporation of India Ltd, the latter of which owns uranium resources in India. The role of Australian investors including Toro Energy is to be able to provide skill and knowledge strengths. Australia has been mining uranium since a long time, and Toro knows how to manage environmental and radiation protections. Toro also knows how to regulate and control uranium operations, she said.
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