11:59 Mar. 30, 2016
The contract is expected to be signed during the nuclear security summit in Washington, U.S.
Australia will supply uranium to Ukraine for power generation.
This is according to a statement made by Australian Minister of Foreign Affairs Julie Bishop.
Bishop and Ukrainian President Petro Poroshenko are set to sign a contract at the International nuclear security summit in Washington, U.S.
Australian Minerals Council spokesman Daniel Zavattiero praised the agreement.
"Access to growing Ukrainian uranium demand creates opportunities for more tonnes, more exports, and more jobs in mine construction and operations", Zavattiero said.
Australia holds around 30 percent of world's uranium resources. It already supplies uranium to Canada, France, India, Japan, USA, Great Britain, Russia and South Korea. Ukraine will be the latest addition to this list.
Previously Kyiv was dependent on the uranium supplies from Russia. The new agreement is aimed to diversify energy sources for Ukraine.