South Australian Minister for Mineral Resources, sources, Tom Koutsantonis, is confident his State will remain at the forefront of uranium exploration and development in Australia despite the growing support for the sector in other states. Koutsantonis made the assessment during his opening address to Paydirt's Uranium Conference, held in Adelaide on February 28 and 29. South Australia has long been the home for uranium exploration and development in Australia with three operating mines and an estimated 78% of known Australian uranium resources. The SA ALP branch was the first to break the national Australian Labor Party's "three mines" uranium policy and since the accession of the then Rann Government, the State has led the way in encouraging exploration and fostering a legal and legislative environment conducive to uranium development. "The current state of the uranium sector in Australia would not have been possible without the Labor Party's decision to revoke the no-new-mines policy, nor would we have reaped the opportunities that it has created. "In a first, three Australian jurisdictions WA, SA and NT South Australian Minister for Mineral Resources, Tom Koutsantonis The current state of the uranium sector in Australia would not have been possible without the Labor Party's decision to revoke the no-new-mines policy, nor would we have reaped the opportunities that it has created. are simultaneously progressing major uranium developments. There is now even talk in NSW that the longstanding ban on exploration could be lifted there. However, SA remains the focal point for the Australian uranium industry." SA produced 4,276t of yellowcake in 2010- 11, nearly 60% of Australia's total production and enough to "commission six, 1GW nuclear reactors, enough to power up to 4.5 million homes". "We want to see this figure grow substantially in coming years. With world-class uranium operations on our doorstep, the South Australian Government is committed to fostering growth within the uranium industry. "In South Australia alone, there are no fewer than 17 uranium projects and prospects in the pipeline, none of which would have been possible without that pivotal policy decision." Responding to a question from Paydirt after his address, Koutsantonis said he felt the increased interest in uranium development in WA, the NT and NSW would not have a detrimental effect on SA. "I genuinely hope all jurisdictions in Australia open up to uranium mining but I Koutsantonis speaks 10 anti-uranium protestors on the first morning of Paydirt's 2012 Uranium Conference Media Monitors Client Service Centre 1300 880 082 Copyright Agency Ltd (CAL) licenced copy Paydirt, National 01 Apr 2012, by Dominic Piper General News, page 67 - Size: 858.49 cm² Magazines Trade - Circulation: 4,028 (Monthly) ID 141287031 BRIEF URANIUMSA PAGE 1 of 2 expect our commitment to the industry and our approvals process to be strong enough to retain our position." Koutsantonis' comments came a week after the New South Wales Government announced it would be reviewing the State's ban on uranium exploration and mining. The head start SA's progressive stance has offered the uranium sector is now starting to bear fruit. In mid-February, the Minister signed an offer to JV partners Alliance Resources Ltd and Quasar Resources Pty Ltd for a 10-year mining lease for the Four Mile uranium project, near the Beverley mine in central SA. The Four Mile discovery was made with the assistance of the SA Government's Plan for Accelerating Exploration initiative, a programme lauded the world over for its innovative approach to supporting and exploration expenditure in the State. "Four Mile is a wonderful example of what is being achieved in this State through the pioneering PACE programme. PACE funding played a crucial role in discovering Four Mile one of the most significant uranium deposits anywhere in the world in the past 25 years." The State is also home to potentially the world's largest uranium mine, the Olympic Dam copper-gold-uranium operation owned by BHP Billiton Ltd. In November, the proposed expansion of Olympic Dam received bipartisan approval, clearing the way for the company to make a decision on expanding production at the mine, including raising uranium output to 19,000 tpa. People in India are living in conditions that we wouldn't stand for here but nuclear energy can help them create wealth. As a South Australian and as a Minister for Mineral Resources and Energy, the thought of our uranium powering the economies of China and India makes me proud." Having welcomed and debated with a small group of anti-uranium protestors prior to his address, Koutsantonis set out his views on the role of uranium and nuclear technology in the future global energy mix. "The ALP national conference last December, which I attended as a delegate, agreed to remove the restriction on imports of uranium to India. It is one thing to have a policy that allows a uranium mine to proceed, but it is just as important to have access to markets. "India provides an opportunity for Australia to supply uranium to an emerging economy so that it can generate the power it needs to support its fast-paced economic expansion in a carbon-constrained world. People in India are living in conditions that we wouldn't stand for here but nuclear energy can help them create wealth. As a South Australian and as a Minister for Mineral Resources and Energy, the thought of our uranium powering the economies of China and India makes me proud." On a nuclear future for Australia, Koutsantonis said he remained doubtful there was enough of a groundswell of support for action to be taken. "There is not the political will but I think there are other considerations as well. Gas is too cheap with WA, SA and Queensland having such large reserves; nuclear is just not viable. And the truth is, the social licence is just not there," he said. - Dominic Piper UraniumSA's Samphire project is one of South Australia's emerging uranium plays. It is among a host of projects in development that contributes to a healthy sector in the State Media Monitors Client Service Centre 1300 880 082 Copyright Agency Ltd (CAL) licenced copy Paydirt, National 01 Apr 2012, by Dominic Piper General News, page 67 - Size: 858.49 cm² Magazines Trade - Circulation: 4,028 (Monthly) ID 141287031 BRIEF URANIUMSA PAGE 2 of 2
USA Price at posting:
8.6¢ Sentiment: LT Buy Disclosure: Held
(20min delay)