The Australian government may bring about a change in the law to export uranium to India, since the Nuclear Suppliers Group (NSG), of which Australia is a member, has enabled India to carry out nuclear commerce.

Damian Papps, director investments, department of trade & economic development of South Australia, said South Australia has the world?s 40% of proven uranium reserves and they were looking at opportunities for larger commercial utilization of it.

So far the only Indian interest of mining uranium in Australia has been from Reliance India, which has formed a joint venture with Uranium One Inc, currently developing a mid- sized uranium mine in South Australia. Uranium One is a Canadian company listed in Toronto and Johannesburg Stock Exchanges and has uranium-mining interests in Kazakhstan and the US besides Australia. In Australia, the company owns 51% in Honey Moon Uranium project, in which Reliance is a partner.

Papps said even if Indian companies make investments in uranium mining projects, unlike coking coal it cannot export uranium ore to India since the government doesn?t allow it at present. Companies like Gujarat NRE, which holds coal assets in Australia, can mine as well as export coking coal to India.

According to Papps, the government is considering to make a change in law so that uranium can be exported to India.

Following the nuclear deal with the US, the Nuclear Suppliers Group (NSG) granted India a crucial waiver in 2008 under which India can carry out nuclear commerce with the rest of the world.

Papps said Australia wants India to share costs with it in infrastructure projects required to support the mining expansion projects in Australia and that it was hunting for investors in India.

However, Australia was also trying to find partners in the US, Canada, Germany and China but so far none has agreed to participate in developing infrastructure projects, Papps said.

BHP Billiton, which controls Olympic Dam, the world?s largest uranium ore body, is aiming at becoming the world?s largest producer of uranium ore by 2020. There are investment opportunities lying for India in various such projects, Papps said.