PERTH (miningweekly.com) – Western Australia is likely to export its first uranium within the next three years, the state’s Mines and Petroleum Minister, Norman Moore, said on Tuesday.
Speaking at the Australia Uranium Summit, Moore said that, based on the projects currently under development, the state could export as much as 5 000 t of uranium oxide, once the first wave of projects started producing.
Western Australia currently had 440-million pounds of identified uranium, in some 30 deposits.
Meanwhile, Moore said that since the state government’s decision to approve uranium mining in 2006, exploration expenditure in the sector had increased by 800%, with uranium exploration spending reaching A$45-million in 2009.
“The government’s decision to overturn the ban on uranium mining has paid off in the context of exploration expenditure,” he said in Perth.
Moore noted that international demand for uranium would increase over the medium- to long-term, and prices would rise, supported by demand from over 50 nations, which were currently in talks to develop nuclear power plants.
“Western Australia leads the national exploration and development of resources found onshore and offshore. For many years, we have been the world leader. However, we have a lot of ground to make up for if we are to repeat this performance in the uranium sector, and this is our goal,” Moore said.
However, he cautioned that the federal government’s proposed super tax on the resources sector would negatively affect investment.
Speaking at the Australia Uranium Summit, Moore said that, based on the projects currently under development, the state could export as much as 5 000 t of uranium oxide, once the first wave of projects started producing.
Western Australia currently had 440-million pounds of identified uranium, in some 30 deposits.
Meanwhile, Moore said that since the state government’s decision to approve uranium mining in 2006, exploration expenditure in the sector had increased by 800%, with uranium exploration spending reaching A$45-million in 2009.
“The government’s decision to overturn the ban on uranium mining has paid off in the context of exploration expenditure,” he said in Perth.
Moore noted that international demand for uranium would increase over the medium- to long-term, and prices would rise, supported by demand from over 50 nations, which were currently in talks to develop nuclear power plants.
“Western Australia leads the national exploration and development of resources found onshore and offshore. For many years, we have been the world leader. However, we have a lot of ground to make up for if we are to repeat this performance in the uranium sector, and this is our goal,” Moore said.
However, he cautioned that the federal government’s proposed super tax on the resources sector would negatively affect investment.
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