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Monday, 9 November 1964

Senator PALTRIDGE - The Minister for National Development has supplied the following answers - 1 and 2. 1 have no knowledge of a recent sale of a substantial quantity of uranium oxide by South Africa. The annual reports of the South African Atomic Energy Board mention sales of small quantities of uranium to Japan, Sweden,

Israel and Brazil during the past three years. Little information is available about these sales. It is known that 13 short tons of uranium oxide were sold to Japan in 1962 at a price of 3.65 United States dollars. Sales to Israel total 10 metric tons of uranium oxide but the price has not been revealed. 1 am not aware of the details of the other transactions referred to, except that it is known that the quantities involved were small.

3.   There are some indications of a quickening interest in the uranium market. The current known reserves of uranium are unlikely to be adequate to meet the expected substantial increase in demand arising from planned programmes for the introduction of nuclear power. Therefore, potential large-scale users of uranium, particularly in Europe, are showing some anxiety for resumption of exploration. However, it is unlikely that there will be a significant increase in the consumption of uranium for nuclear power generation before the early 1970's and there is no significant change in the forecast that it may be 1969 or 1970 before the uranium market revives.

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