Aussie nuclear stake 'not guaranteed'

Australia must avoid complacency if it wants to secure a stake in the world’s uranium market, an industry figure says.

Executive director of the Australian Uranium Association, Michael Angwin, said Australia was poised to cash in on a growing acceptance that nuclear energy offers a solution for reliable energy with a low carbon footprint.

But, he said, Australia needed to be open for business.
The West Australian government last year lifted a ban on uranium mining, paving the way for dozens of uranium deposits across the state to be exploited.

But Queensland – which has an estimated $A20 billion in reserves – allows exploration but no mining.

“Countries do not wish to be reliant on too few sources of energy or too few countries to supply it,” Mr Angwin said.

“We should remember this if ever we think our uranium endowment alone will enable us to capture uranium markets whenever we want to. Queenslanders in particular should take note.”

Uranium must also form a significant part of Australia’s response to climate change, Mr Angwin said.

The Age