The Association of Mining and Exploration Companies says the recently announced terms of reference of South Australia’s Nuclear Fuel Cycle Royal Commission should have provided a discussion platform around opportunities for uranium as an energy source.
“It is disappointing to note that limited reference is made in the Paper to the exploration and mining of uranium as a future source of low emission energy,” AMEC CEO Simon Bennison said.
“Surely, this is a great opportunity to get some alignment and agreement across all Australian jurisdictions on a pro uranium mining sentiment.
“The terms of reference of the Royal Commission into the future role of South Australia in the nuclear industry should provide an opportunity to debate the key perceived issues and concerns associated with uranium mining.”
The Royal Commission was set up on March 19 and was tasked with investigating the potential for expanding exploration, extraction or milling of uranium minerals for onshore processing, manufacture and the generation of electricity. It was also tasked with inquiring into the management, storage and disposal of non-military radioactive waste.
The commission is good news for uranium miners operating in the state, including Heathgate Resources and BHP Billiton, as it opens commercial opportunities beyond exportation for their Beverley and Olympic Dam mines – the latter of which is known to be operating on the world’s largest uranium deposit. It may also present more export opportunities for other miners such as Rio Tinto, whose partially owned subsidiary Energy Resources of Australia operates the Ranger mine in the Northern Territory.
Nonetheless, the conversation around uranium mining and its potential remains a divisive issue across the country, despite the nation holding 31% of the world’s known total uranium resource and ranking third largest global producer.
While some are making proactive steps – with New South Wales opening for uranium exploration and Western Australia potentially expanding production by granting conditional approval of Cameco's Kintyre mine in the Pilbara – Queensland is moving backwards with the new Labor government announcing plans to restore a ban on uranium mining less than three years after the previous Liberal government lifted it.
Meanwhile, Victoria remains opposed to uranium exploration and mining.
The Royal Commission’s report is due on May 6 next year.
