Uranium deal celebrated by 'delighted' minister
24 July 2009
Australia may still have a policy against the generation of nuclear power at home, but its government is nevertheless in favour of exploiting its vast uranium reserves.
As a joint venture agreement for the development of the Lake Maitland deposit was signed off yesterday, minister for resources and energy Martin Ferguson said he was "delighted" that investment from abroad "will help develop our uranium assets."
"With around 40% of the world's commercially viable uranium," Ferguson expounded, "Australia has an obligation to develop those resources in a way that achieves a cleaner global energy outcome."
"Concerns related to climate change and energy security are set to drive increased demand for Australian uranium in the years ahead. The Australian government strongly supports the expansion of uranium mining in Australia as it will bring significant economic benefit to Australians and play a major role in international efforts to reduce carbon dioxide emissions."
Martin Ferguson Australian minister for resources and energy
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Given environmental approval, Lake Maitland is set to be developed by a joint venture of Australia-based Mega Uranium and the Japan Australia Uranium Resources Development consortium. The deposit, in Western Australia, contains 10,750 tonnes of uranium oxide.
Ferguson's excitement comes just ten days after a new uranium mine was given approval by environment minister Peter Garrett. Formerly a leading activist fighting uranium mining amongst other things, Garrett had no choice but to approve the mine in line with Labor Party policy and the fact that he was certain the Four Mile mine would pose "no credible risk to the environment."
There has been much debate on nuclear power and uranium in Australian media over in recent days. The Australian Uranium Conference took place in Perth and gained media coverage, while Ferguson's department is accepting submissions towards a discussion paper on energy with several pro-nuclear viewpoints represented.
These events come just one week ahead of the Labor Party conference at which a stance to prohibit the building of nuclear power plants is on the party's platform. The government will come under pressure to justify its anti-nuclear, pro-uranium position in the light of a need for significant and lasting cuts in emissions.