( RIA Novosti ) - Australia could supply Russia with uranium worth a $1 billion as part of a bilateral nuclear cooperation agreement signed between the two countries' leaders Friday.
The deal was signed by Australian Prime Minister John Howard and Russian President Vladimir Putin, who arrived in Sydney Friday to attend the Asia-Pacific Economic Cooperation (APEC) forum, running 8-9 September.
"This new agreement will allow the supply of Australian uranium for use in Russia's civil nuclear power industry and provide a framework for broader cooperation on peaceful nuclear-related activities," Howard told reporters.
Australia is one of the leading producers of uranium in the world exporting around $520 million worth of nuclear fuel last year.