MELBOURNE: Australia and India have signed a uranium supply agreement during Indian Prime Minister Narendra Modi’s visit to Australia, paving the way for long-term uranium exports for peaceful purposes.

Following talks with Australian Prime Minister Anthony Albanese, Modi said the agreement would strengthen nuclear energy cooperation, enable uranium supplies from Australia to India, and support clean energy goals. A joint statement said uranium exports will be subject to safeguards set by the International Atomic Energy Agency (IAEA).

Australia, which holds an estimated 28 percent of the world’s uranium resources, had previously faced legal and political hurdles in exporting uranium to India. Albanese said the agreement would expand Australia’s uranium exports while supporting India’s non-fossil fuel energy capacity.

Albanese also praised Modi’s leadership in strengthening bilateral ties. Modi is scheduled to attend a community event in Melbourne before traveling to New Zealand.