China wants a slice of the uranium cake

SYDNEY – Through the darkest days of the Cold War, the world’s largest uranium reserves stayed mostly untouched in their underground deposits, in a silent warning of the dangers of nuclear proliferation.

But a different kind of fright factor has dredged up a new debate over what to do with thousands of tons of Australian uranium. If the deposits are now opened to all-comers, the biggest slice could go to countries that were on the other side during the ideological standoff – especially China.
An estimated 40% of the world’s proven uranium reserves are found in Western Australia, Queensland, South Australia and the Northern Territory. Sprawling Roxy Downs, in South Australia, alone accounts for one-third of known deposits. But only two of dozens of potential mines are in operation and they produce a modest 20% of the global supply, thanks to a 1984 accord between unions and the Labor Party government of the time that severely restricted export sales.

Asia Times