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Australia pushes to mine more uranium

Steel News - Published on Thu, 21 Oct 2010

Reuters reported that Australia is racing to keep pace with a projected 20% rise in global uranium consumption to feed a fast growing nuclear power sector but the nation has been slow to develop new mines due to political opposition.

Here are 6 facts about uranium mining in Australia:
1. Uranium mining is outlawed in all but 2 of Australia\'s 6 states and in the Northern Territory.

2. Australian uranium production is forecast to rise 35% in fiscal 2010 to 2011 after declining 31% the previous year due to operational problems at BHP Billiton\'s Olympic Dam mine.

3. The Honeymoon uranium project in South Australia owned 51% by Uranium One and 49% by Mitsui & Company will be Australia\'s fourth uranium mine when it is commissioned later this year. The project is designed to yield 880,000 pounds of uranium a year for 6 years.

4. BHP Billiton was the world\'s sixth largest producer of uranium in 2009 with 5.8% of the global market. Energy Resources Australia was number 8 with 2.7%.

5. All of Australia\'s uranium is mined for export. The country relies almost entirely on coal fired power generation. It has no nuclear power industry and no plans to start one because of entrenched public opposition to nuclear power.

6. Australia\'s forecast for uranium production of 10,000 tonnes next year is expected to almost match that of Canada while production in Kazakhstan will be double that.

(Sourced from Reuters)

Posted By : admin on Thu, 21 Oct 2010
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