Antinuclear

Australian Uranium Association knows that uranium mining for Queensland is not a goer

The Australian Uranium Association’s website  recently published an article “Uranium Mining – an opportunity for Queensland”  talking up, as one would expect, the potential for uranium mining n Queensland.

And yet, and yet –

included in this article –

“The uranium industry in Queensland will likely be a moderately sized industry developed over a lengthy period, with the potential to make a valuable contribution to the diversity and prospects of the Queensland economy and to employment, including regional employment.

Queensland’s uranium endowment is about 2% of Australia’s endowment.  Queensland contains upwards of 40,000 tonnes of reasonably assured and inferred resources.”

Jim Green of Friends of the Earth, points out  –  That amount of uranium would fetch less than $4 billion at the current rate for Oz U sales (around $87,000 / t U3O8), and contrasts sharply with the AUA’s claim last year that the known uranium resource in Queensland, using projected prices and exchange rates, is valued at around $18 billion.  The $4 billion figure is of little relevance since the uranium price is too low for any mines to be viable in Queensland

February 28, 2013 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, spinbuster, uranium