Report: Australia should start uranium enrichment

Australia - with the world's largest deposits of uranium - should quickly lift restrictions on export and enrichment of the radioactive fuel to boost the multimillion dollar nuclear industry and help reduce the nation's reliance on polluting fossil fuels, a government report found Tuesday. The report into the uranium industry said federal and state governments should lift a long-standing restriction on opening more than the current three uranium mines in the nation. "Skill shortages and government policies restricting the growth of the industry should be urgently addressed," the report said. The report - commissioned by the government in June - said enrichment of uranium ore in Australia could add 1.8 billion Australian dollars (US$1.4 billion; €1.1 billion) to the A$573 million (US$441 million; €344 million) a year uranium export industry. "Current legal and regulatory impediments should be removed," the report said. The report found 25 reactors could be supplying a third of Australia's energy needs by 2050.