Australian policies on Resources and Energy investment create concern
Concern has grown overseas, not only in major companies, but also countries such as Canada and China about the effects of what is seen as confusing and restrictive policies to both investment within Australia and exports from Australia.
With the West Australian Government Premier Alan Carpenters pledge to impose a legislative ban on uranium mining overseas companies now consider withdrawal from Australia Yet the Premier himself is apparently in favour of uranium mining.
Latest cab off the rank is Chinese Sinosteels application to develop a uranium mine in the SA outback Sinosteel is already testing the waters with a 100% bid for Murchison Metals iron ore.
Earlier this week BHP Billiton chairman Don Argus joined other industry leaders in an attack on the Rudd Governments planned emissions trading scheme saying it could crimp investment that is desperately needed to meet the nations growing power demand. Mr Argus, in his first comments on the Federal Governments scheme, said carbon prices could not be accurately predicted under the current proposal and that this would sideline extra capacity needed as soon as 2011 to meet demand
Addressing the Australian Industry Group in Canberra yesterday the head of the world's biggest miner also called for serious debate about using nuclear reactors for domestic power as a way to cut carbon emissions Thus challenging the Federal Govt to get serious about their uranium mining policies
Buzzing around is a threat from Rudd Government to abrogate an agreement signed by the Howard Government to allow Australia to sell uranium ore to Russia Apparently this will be punishment for Russia’s recent incursion into Georgia Russia unlike India is a signatory to the Nuclear Non-Proliferation Treaty. The head of the Australian Safeguards and Non proliferation Office John Carlson says Russia is unlikely to breach the treaty because it would not be prepared to risk the supply of uranium required to generate its electricity
Baring a global catastrophe, fluctuations in the short term price of Resources will not affect future requirements.
Companies and Countries need long term security of supply with Resources especially with Energy
Do K Rudd and associated Labor Governments realize this
