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FINANCIAL NEWS
Australia to supply UAE nukes with uranium
01 Aug 2012
(MENAFN) The UAE is seeking to secure fuel for its upcoming nuclear reactors as it inked a deal with Australia to import its uranium, Arabian Business reported.
Australia, the holder of the world’s biggest uranium reserves, will sell uranium and equipment to the UAE, but will not take back the radioactive waste, Australian Foreign Minister Bob Carr said.
The agreement follows two weeks after the UAE’s Federal Authority for Nuclear Regulation (FANR) granted approval for the construction of the GCC’s first nuclear energy plant.
The UAE has pushed its atomic programme plans forward even as other countries halt their plans after last year’s earthquake and tsunami in Japan caused radioactive material to be released from its Fukushima plant.
FANR last month said its project would avoid mistakes made in Japan.
In 2009, Korea Electric Power Corporation, the country’s biggest electricity producer, won a contract to build four nuclear reactors in the UAE.
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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