u and more u

Friday, August 12, 2005
AS THE push for more Australian uranium mines gains momentum, the Federal Government yesterday announced it had initiated a three-year framework for development of the industry, including a focus on making it easier to mine, explore and export the nuclear fuel.

"Australia is currently the world's second largest producer of uranium [behind Canada], but there are significant challenges facing the industry in this country while, globally, there are concerns about future supply," Australian industry minister Ian Macfarlane said.

Macfarlane said the framework would also deal with transport and infrastructure as well as royalties and environmental issues.

"The uranium industry framework will examine all sides of the issue through a science-based approach developed in partnership with relevant state and territory governments, industry, indigenous and community stakeholders."

The framework was discussed yesterday in Canberra by the Steering Group, which included a number of Australia's larger uranium players, indigenous groups and state government representatives that the minister said would work together on creating an action plan to be presented in Canberra in 12 months.

"This work will help raise public awareness of Australia's uranium resources, how our uranium is used overseas and what measures are in place to ensure the mining and export of uranium does not impact on human health or the environment," he said.

Earlier this week the Federal Government announced it had begun negotiations to start exporting uranium to China.

Last week Macfarlane announced the Federal Government had assumed control of the mines approval process in the Northern Territory, a move that angered the Northern Territory chief minister Clare Martin.

Speaking with ABC radio this morning, Macfarlane said Western Australia, believed to hold more than $6 billion of in-ground uranium resources, would suffer due to its stringent policy on uranium mining.

"Basically, we'll just leave Western Australia out of the equation for the moment," he said.

"That is to the disadvantage of Western Australians and to the state itself because not only will it miss out on export income and jobs, it will also miss out on literally hundreds of millions of dollars in royalties."

Macfarlane reinforced the idea that the place to be for the swag of new Australian uranium juniors was both South Australia and the NT, which take a user-friendlier stance on the issue.

"The reality is now South Australia and the Northern Territory are open for business for uranium mining - those two states and territories will benefit substantially [from the current uranium price]."