Nuclear could be lucrative: minister

A nuclear fuel industry could be potentially lucrative for Australia, Finance Minister Mathias Cormann says.

Senator Cormann says the government is keeping an open mind on any proposals put forward by a South Australian royal commission into the nuclear fuel cycle, which could identify opportunities to diversify the economic base on nuclear power.

"This could be potentially quite lucrative," the minister told Sky News on Saturday, adding opposition to nuclear energy was often ideological.