The election of a Federal Labor Government has been welcomed by one of the party's long standing adversaries, the uranium lobby.

The Australian Uranium Association is hopeful a Rudd government will override the majority of state Labor governments, which have legislated to ban uranium exploration and mining.

In April, the Federal ALP dumped its three mines uranium policy and endorsed major projects including the expansion of South Australia's Olympic Dam mine.

Uranium Association spokesman Michael Angwin believes Labor's plans to remove constraining business regulations will allow the industry to expand.

"We think that the prohibitions in Queensland and Western Australia are essentially matters of business regulation," he says.

"They're issues which impede the growth of Australia's international competitiveness and certainly the competitiveness of Australia's international uranium industry."