Australian Opposition Anger At India-Canada Uranium Deal

Australia's federal opposition is complaining of what it calls a colossal missed opportunity for Australia, after it was revealed that Canada is soon to resume uranium sales to India.

The Canadian Prime Minister Stephen Harper has visited New Delhi to sign a series of agreements on trade and energy, and he has also announced a new civilian nuclear deal with India, which will include big new uranium sales.

India has been asking for Australian uranium for years, but the government of Prime Minister Kevin Rudd has a ban in place preventing any sales.

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Recent News Regarding Canada's Close Ties With India
September 2009

OTTAWA -- Canada is close to signing a deal with India to sell nuclear technology and materials, Trade Minister Stockwell Day said on Friday, adding he was confident that remaining security concerns would be resolved.

Mr. Day made similar comments in May, saying at that time that a deal was imminent.

He told reporters on a conference call that he was now ironing out a few final stumbling blocks.

"I had a telephone meeting just last week with India's national security adviser. We are down to four fine points ... He and I both agree that final agreement is possible within days, if not just a matter of a few weeks," Mr. Day told reporters on a conference call from India.

Mr. Day said he did not foresee any threat of Canadian materials being diverted to military uses elsewhere in the region because of India's commitment to allow inspections by the International Atomic Energy Agency as well as tough transparency and reporting requirements.

"These are very strong provisions," he said.

Canada halted nuclear co-operation with India after the country diverted material from Canadian-designed reactors to make a nuclear bomb in 1974. The conflict between India and Pakistan at the time led to widespread international concerns about India's nuclear intentions.

Canada and other countries lifted their moratorium on nuclear trade with India last year.

Mr. Day said one of the four items to be resolved before signing a deal was the "question of reprocessing", without providing details.

"I'll let our negotiators make progress on those and the others without unduly trying to raise pressure points publicly on them," he said.

The deal means Canadian uranium producers will be able to sell to an Indian market that is seen, along with China's, as one of the top areas of growing demand for nuclear fuel.

Cameco, a top uranium miner, recently said it plans to open a marketing office in India.

"Certainly we're looking forward to having the opportunity to do business in India. It's a large market opportunity for any uranium fuel supplier," said Cameco spokesman Lyle Krahn.

The company plans to open the office next month.

"Once we have the agreement in place, we'll certainly be moving forward," Cameco's spokesman.

On Wednesday, the Canadian government announced a similar nuclear deal with Kazakhstan, where Cameco already has operations.

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In the early 1980s Gwyneth Cravens was one of the protesters against the Shoreham Nuclear Power Plant on Long Island, and also participated in ban-the-bomb rallies. After 15 years of deepening familiarity with nuclear power, she says she still would ban the bomb, but she now regrets that the Shoreham reactor was shut down.

Who changed her mind was a nuclear expert at Sandia Labs in Albuquerque, D. Richard Anderson, known as “Rip.” “Here was someone who thinks in thousands of years, about climate, about nuclear waste storage,” she said. “He applies to nuclear issues the same probabilistic risk assessment that helps us understand what we’re facing with climate change.”

One concept that altered Cravens’ perspective was realizing what “baseload” requires. Rip Anderson, on the stage with her, explained that baseload is the fundamental currency of grid power. It is massive power constantly available 24/7. It comes from only three sources— fossil fuels, hydro-electric dams, and nuclear. Hydro is maxed out. Fossil fuels have to be cut back to slow global warming. That leaves only nuclear growth to handle the expected doubling of energy demand in the world by 2030.

Anderson added that his first scientific discipline was oceanography, so one of his greatest concerns about CO2 loading of the atmosphere is that the resulting carbonic acid in the oceans is dissolving the calcifying organisms and could effectively end the crucial carbon sink that oceans provide.

Cravens went into detail about the harm brought by coal, which currently provides 51% of US electricity (while hydro is 7%, nuclear 20%). Estimates are that coal pollution causes 24,000 deaths a year in the US, 400,000 a year in China (not counting the 5,000 who die annually in Chinese coal mines).

She also mentioned the still-incomplete science of the effects of low radiation— the amounts below 10,000 millirems. People encounter much higher levels of natural radiation at higher elevations and in some radon-rich areas, but there is no indication of higher cancer rates in those places. The fears of long-lingering cancer effects in the Chernobyl region have not proven out.

Comparing the environmental footprint of nuclear versus coal was the most persuasive mind-changer for Cravens. Coal involves vast quanities of mine spoil, vast quantities of fuel, vast quantities of pollution (including mercury and uranium), and vast quantities of carbon dioxide poured into the atmosphere. Nuclear, by contrast, uses the most concentrated form of energy in the world, the plants are small, and the waste amounts to one Coke can per person’s lifetime of energy use.

There is said to be no geological repository for nuclear waste yet, but Rip Anderson pointed out that the WIPP (Waste Isolation Pilot Plant) in a deep salt formation in New Mexico has been operating since 1999. It now handles only military waste, but there is no reason except political that it could not take all of our civilian spent fuel.

Two questions from the audience addressed possible limitations on fast growth of nuclear energy in the world. One was, “Won’t we quickly run out of uranium?” Anderson said that 10% of US electricity currently comes from recycled Soviet nuclear warheads, and we haven’t begun to draw the energy from decommissioned US warheads. The price for uranium ore has been so low in recent decades that mines closed and discovery stopped. Now that the price is rising, mines are reopening and new reserves are being found. (They’re mostly in Canada and Australia, some in the US.) Meanwhile, spent fuel in the US still has 98% of its energy in it. Once we reprocess the spent fuel the way the rest of the world does, we will extract more of that energy, and the final amount of waste will be drastically smaller.

Second question: “Are there enough nuclear engineers in the pipeline to deal with a worldwide nuclear renaissance?” Answer: No. That’s the most limiting resource at this point.

Gwenyth Craven’s new book, The Power to Save the World.

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URANIUM SPOT PRICE UPDATE
UPDATE JUST OUT

The uranium spot market was relatively quiet last week, with uranium market consultant TradeTech's U3O8 Weekly Spot Price Indicator slipping just US$0.50/lb to US$46.00/lb after a drop of US$3.50/lb the previous week.

There were only three transactions totalling approximately 400,000 pounds U3O8 equivalent registered by TradeTech for the week.

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