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Australian mining giant BHP Billiton Chairman Don Argus said Wednesday that his company is well placed to supply uranium to China and India once India satisfies the Australian federal government's export conditions.

Argus Argus made the remarks while addressing the company's annual general meeting in Brisbane, Australia's third largest city and capital of the state of Queensland.

He reminded shareholders of the government's policy to allow uranium exports to China provided it is used for peaceful purposes, while India is yet to satisfy that condition, Australian Broadcasting Corporation radio reported.

He said energy consumption of the two countries is expected to increase dramatically and nuclear energy will play a vital role.

Argus said no responsible company or government can ignore nuclear power as part of the range of energy options.

Australia's current policy prohibits the sale of uranium to India because the South Asian nation has not signed the nuclear non-proliferation treaty.

But the Australian government has been under pressure from India and the United States to change its currency policy.