the pitfalls, the perils and the possibilities..

There is good demand and judging by the facts and figures the Govt could be persuaded to change their mind.


Interesting fact & figures..


* Uranium is part of Australia's mining heritage, though only three mines are currently operating. Two more are under development.

* Australia's uranium reserves are the world's largest, with 28% of the world's total. Production and exports have recently averaged over 9300 tonnes of uranium oxide (7900 tU) per year.

* Australia's uranium is used solely for electricity. It is supplied under arrangements which ensure that none finds its way to countries such as Iraq or North Korea or into nuclear weapons.

* In the five years to mid 2004 Australia exported 43,803 tonnes of uranium oxide concentrate (37,143 tU) with a value of over $2 billion to eleven countries around the world.


In the 1983 federal election the Australian Labor Party (ALP) won government and in 1984 the ALP National Conference amended the Party platform to what became known as "the three mines policy", nominating Ranger, Nabarlek and Olympic Dam as the only projects from which exports would be permitted. Provisional approvals for marketing from other prospective uranium mines were cancelled. This policy persisted until the Liberal-National Party Coalition government came to power in 1996.

Also in 1983 the Australian Government banned uranium exports to France, but then agreed to purchase uranium from Nabarlek which was under contract to French utilities. In 1986 the embargo was lifted and in 1988 the Ranger contract with France was signed. However, in 1995 new contracts with France were banned and this policy briefly survived the change of government in 1996.

WMC Resources announced in mid 2004 that it will spend A$ 50 million over two years to assess the potential for doubling the size of Olympic Dam. The capital cost involved would be A$2-4 billion. Some $4 billion has already been invested in the mine, including $680 million over 2001-04, and in 2003 the mine generated A$ 670 million in export income. The study will include 72 km of drilling on the southern deposit and assessing mining options including possibly a massive open pit to access the orebody which starts 350 metres down. Proved and probable reserves are some 368,000 t U3O8 (312,000 tU), the total resource being over 1.2 million tonnes (1 MtU). Present production capacity is 4500 t/yr U3O8 with 235,000 t copper.




Australia's uranium is sold strictly for electrical power generation only, and safeguards are in place to ensure this. Australia is a party to the Nuclear Non-Proliferation Treaty (NPT) as a non-nuclear weapons state. Its safeguards agreement under the NPT came into force in 1974 and it was the first country in the world to bring into force the Additional Protocol in relation to this - in 1997.

In the five years to mid 2004 Australia exported 43,803 tonnes of uranium oxide concentrate (37,143 tU) with a value of over A$2.0 billion. The nations which currently purchase Australia's uranium are set out below. All have a large commitment to nuclear power:

The USA generates around 30% of the world's nuclear power. Much of its uranium comes from Canada, but Australia is a major source. Japan and South Korea however are important customers due to their increasing dependence on nuclear.

* USA: c 3500 tonnes per year - 103 reactors (supplying 20% of electricity).

* Japan: c 2500 tonnes per year - 54 reactors (supplying 25% of electricity).

* South Korea: c 1000 tonnes per year - 19 reactors (40% of electricity).


* Europe.
EU: about 2600 tonnes per year, including:
Spain: 9 reactors (24% of electricity)
France: 59 reactors (77% of electricity)
UK: 23 reactors (24% of electricity)
Sweden: 11 reactors (50% of electricity)
Germany: 18 nuclear reactors (28% of electricity)
Belgium: 7 reactors (55% of electricity)
Finland: 4 reactors (27% of electricity)




12 months to 30 June each year




FOB, 12 months to 30 June each year



Will Queensland Govt change their policy and how long would it take????