Australia BHP Billiton hopes to change the way of selling uranium to China

Friday, 26 June 2009 00:00

BHP Billiton expects to export its first uranium to China at the end of this year. This will be the second exported to China from Australia. The first exportation to China was from Energy Researches of Australia, the subsidiary of Rio Tinto Group.

Based on the previous experience and problems during the trade of iron ore to China, BHP wants to shift the way uranium is priced away from long-term contracts that prevented it from benefiting from a recent spike in prices.