AUSTRALIAN SALE OF URANIUM

Press, Volume LXXXIX, Issue 27169, 13 October 1953, Page 9

AUSTRALIAN SALE OF URANIUM

Reported Failure Of Negotiations (Rec. 7 p.m.) SYDNEY, October 12. The Australian and British Governments have failed to reach an agreement on terms for the sale of uranium to Britain, according to the “Sydney Morning Herald.” The Canberra correspondent of the newspaper says it is learned authoritatively that the British terms were too onerous and “had too many strings attached” for Australia to accept. The British Paymaster-General (Lord Cherwell) is reported to have discussed the terms of a 30-year agreement with the Cabinet in Canberra last week, but Australia could not accept such terms because of the uncertainty of future uranium markets, and because of the feeling that Australia should not be tied down to longterm contracts which might prevent her from using her uranium supplies to the best advantage..

The correspondent says, however, that the talks with Lord Cherwell are expected to bring important results, and prospecting and survey work will be speeded up. The Federal Prime Minister (Mr Menzies), asked to comment on the report that Britain and Australia had failed to agree, said the Federal Government’s discussions with Lord Cherwell had been “most helpful.” He said: “Reports such as this are singularly misleading, because we don’t know and will not know for some years what uranium we have in Australia.”