Australian news, and some related international items

Australia’s uranium industry looks to Paris Climate Conference to save it

a-cat-CANRead between the lines, as BHP makes some of  the right noises about climate change, in its oh so worthy portfolio analysis of climate change. BHP warns about the need for action and supports carbon pricing.  It says it supports renewable energy, and does indeed support carbon capture and storage. 

BHP says little about uranium – but I suspect that this is the main game.

However, it is interesting that BHP makes a quite revolutionary statement, for a nuclear company, in for the first time, publicly acknowledging that the next nuclear disaster might be a damaging blow to the industry.

Perth Now reported, Oct 1 : 

“Mining giant BHP Billiton said this week it expected uranium would be the biggest winner in its portfolio, as the world comes under pressure to cut carbon emissions and limit global warming to two degrees celsius.

Australia holds the largest share of uranium resources globally. The ongoing South Australian royal commission into the nuclear fuel cycle is an important opportunity for Australia to review its contribution towards development of nuclear power, Dr Guthrie told mining industry executives in Sydney.”

BHP released a Climate Change portfolio analysis
“In a 2°C world, we believe there is a likelihood of upside for uranium, high-quality metallurgical coal and iron ore.”
“We are investing in the development of low-emissions technologies and supporting market mechanisms that provide financial incentives for emissions reductions and sustainable development. ….”
” a more diverse energy supply mix prevails, with significantly increased use of nuclear energy and renewables”
“Critical uncertainties impacting demand for BHP Billiton’s commodities in a 2°C world:

October 2, 2015 - Posted by | AUSTRALIA - NATIONAL, spinbuster

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