Antinuclear

Australian news, and some related international items

Nuclear waste dump plan for South Australia -uneconomic and uinrealistic

This reality is not linked to any red or green tape, but rather to the clear absence of economic returns. While the sector’s risks are significant, its economic contribution is not: in total it provides only around 650 jobs and $700 million in earnings – nationwide.

South-Australia-nuclearDave Sweeney: Nuclear pain outweighs economic gain for South Australia THE ADVERTISER FEBRUARY 10, 2014 IF South Australia moved further down the nuclear road by processing enriched uranium or storing nuclear waste, it would threaten the natural environment and put the state in direct conflict with federal policy, global markets and community expectations.

The call by Business SA to process enriched uranium and store nuclear waste stems from misplaced enthusiasm rather than measured assessment.

Any such call can only be made by ignoring the reality that the nuclear industry is, here and internationally, under intense political, regulatory and community pressure since the Fukushima meltdown in Japan.

A market analysis by economic forecaster Morgan Stanley shows the price of uranium has slumped by nearly 50 per cent since the Fukushima nuclear crisis, where Australian uranium became and remains global radioactive fallout.

A 2013 report by the Australian Conservation Foundation, Yellowcake Fever: Exposing The Uranium Industry’s Economic Myths, used official industry data to demonstrate the uranium sector is a minor contributor to employment and the economy. In the 10 years to 2011, uranium accounted for only 0.29 per cent of Australian export revenue and less than 0.015 per cent of national jobs.

The SA uranium sector reflects the industry’s hard times.

In recent times BHP Billiton has canned the long-budgeted Olympic Dam open cut plan, largely because of ‘‘uncertainty’’ over uranium. Marathon Resources has given up its uranium mining ambitions, stating that the ‘‘risks outweigh the rewards’’, while the Honeymoon mine in the state’s north-east has been placed into care and maintenance because of the low uranium price.

This reality is not linked to any red or green tape, but rather to the clear absence of economic returns. While the sector’s risks are significant, its economic contribution is not: in total it provides only around 650 jobs and $700 million in earnings – nationwide.

Against this backdrop the call for uranium enrichment, domestic nuclear power and radioactive waste storage in SA is simply thinking based on ideology, not evidence.

We do need to review and reconsider the nuclear industry in SA and beyond, but with a view of exiting rather expanding this toxic trade……,http://www.afr.com/p/business/companies/weak_uranium_prices_forces_closure_6Jq1zMnOONO3

 

February 11, 2014 - Posted by | South Australia, uranium, wastes

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: