AUSTRALIA'S uranium industry is taking on an increasingly multinational flavour, with or without plans by Prime Minister Julia Gillard to lift the ban on sales to India.

A joint venture between a Russian-controlled Canadian company, Uranium One, and Japan's Mitsui, is increasing production at its $138 million Honeymoon mine in South Australia.

The mine brings to four the number of Australian uranium mines, with the partners planning annual production of 400 tonnes of uranium for at least six years, making it the smallest of Australia's uranium mines behind ERA's Ranger mine in Kakadu, BHP Billiton's Olympic Dam in South Australia, and Heathgate's Beverley mine in South Australia.

The big uranium developments that could triple Australia's annual uranium exports to more than 30,000 tonnes are much further off. BHP plans to triple output at Olympic Dam - the world's biggest deposit - and is investigating developing the Yeelirrie deposit in Western Australia. Canada's Cameco and Japan's Mitsubishi also want to develop the Kintyre deposit in Western Australia.

All the uranium expansions are having to factor in lower uranium price expectations after the slump in demand following the Fukushima nuclear disaster in March. Prices reached record levels in June 2007 of $US136 a pound, but are now at $US53 a pound.

September-quarter production from Honeymoon was 44,500 pounds (17 tonnes) Production is on the rise, with monthly production in October of 25,300 pounds (10 tonnes). Forecast total cash costs in 2012 are $US47 a pound. That would make Honeymoon the highest-cost producer in Uranium One's global portfolio of mines. The weighted average cost of production across all of its mines is forecast at $US19 a pound in 2012.

Like the rest of the Australian mines, Honeymoon is banned from selling uranium to India. Its sales are destined for power utilities in North America, Western Europe and Japan.

Uranium One is the operator of Honeymoon with a 51 per cent interest. Mitsui (49 per cent) became involved through a 2008 deal by contributing $A104 million to its development.