Antinuclear

BHP, Rio Tinto, Paladin want uranium sales to Russia, and no mining tax

The Australian Uranium Association says one of the first tests of Labor’s continuing support for the industry will be whether it goes ahead with uranium sales to Russia,…..also sought reassurances from the new Gillard government that her proposed 30 percent tax on iron ore and coal mines will not be extended to the uranium industry.

Australia uranium industry concerned over new govt  Sep 9, 2010  SYDNEY, Sept 9 (Reuters) by Mark Bendeich – Australia’s budding uranium industry is concerned the nation’s new Greens-backed minority government could be less supportive of its expansion and may look to tax uranium mines, an industry lobby group said on Thursday

…….. listed uranium miners such as Paladin () and Energy Resources of Australia (ERA)   have lagged the wider local market since Aug. 21 elections, which returned Prime Minister Julia Gillard’s Labor Party to power — but only with the support of a Green MP whose party opposes uranium mining.
The industry is watching closely what might happen with a new arrangement with the Greens,” Australian Uranium Association spokesman Simon Clarke said.

The association represents producers such as ERA, which is controlled by global miner Rio Tinto , and also BHP Billiton  which plans a $20 billion expansion of its Olympic Dam uranium-copper mine in Australia……

Miners and some investors, though, remain concerned, given Labor itself had been opposed to new uranium mines until 2007.

The association says one of the first tests of Labor’s continuing support for the industry will be whether it goes ahead with uranium sales to Russia, as it hinted it would do in March when it still commanded an outright majority.

It has also sought reassurances from the new Gillard government that her proposed 30 percent tax on iron ore and coal mines will not be extended to the uranium industry. ($1=1.088 Australian Dollar)

September 10, 2010 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, politics, uranium | antinuclear, Australia, BHP, BHP Billiton, nuclear, nuclear costs, uranium