Antinuclear

Bleak future for uranium, but not because of resources tax

The mining lobby, and their media servants revel in attacking the Australian government over the proposed super profit resources tax. They blame theis for a poor outlook for for example, the expanded Olympic Dam uranium mine.

But the truth of the poor uranium outlook is otherwise.

Tax gains from bad apples: reduce your tax bill | The Australian, 16 June 2010, Guadagnuolo sees little prospect of a sustained recovery for uranium miner Energy Resources Australia ………”Further, we think the market has overestimated the scarcity of uranium, while advances in reactor technology will limit demand as reprocessing becomes increasingly effective, with the added benefit of limiting the proliferation of nuclear materials,” he says…..PRIME CANDIDATE FOR TAX LOSS SELLING……Energy Resources of Australia (ERA): Down 43 per cent since June 30.

June 16, 2010 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, secrets and lies, uranium | antinuclear, Australia, BHP, BHP Billiton, nuclear costs, Olympic Dam, secrets and lies, uranium