Antinuclear

Australian news, and some related international items

Honeymoon uranium mine might restart this year, and pigs might fly

Uranium miner flags restart at Honeymoon within a year if prices jump, others aren’t so sure, ABC BROKEN HILL BY DECLAN GOOCH AND SARA TOMEVSKA 22 Jan 2020, The company behind a proposal to restart uranium mining in north-east South Australia says it would be ready to begin production within a year if prices improve.

But the Australian Conservation Foundation (ACF) has cast doubt on the likelihood of that occurring, arguing the market is moving away from uranium.

Key points:

  • Honeymoon is one of only four Australian uranium mines with an export licence but has been mothballed since 2013
  • New owner Boss Resources says technology will help it lower operational costs and will reopen the mine once uranium prices improve
  • Anti-nuclear campaigners doubt the mine’s prospects, saying significant uranium producers have been deferring or halting development

The Honeymoon uranium mine was mothballed in 2013 because it had become too expensive to run.

But in 2015, the mine, which is about 80 kilometres north-west of Broken Hill, was purchased by WA exploration company Boss Resources.

Boss chief executive Duncan Craib said the company had developed new technology to lower operational costs and had finalised a feasibility study.

He said the mine would reopen once uranium prices improved, which he was expecting to happen soon.

“We don’t want to destroy the resource at low uranium prices, so we’d like an uptick in the market before proceeding,” Mr Craib said.

Honeymoon is one of only four Australian uranium mines with an export licence.

However, Mr Craib said uranium was under-utilised in Australia and he would like to see a domestic uptake of nuclear power…….

Optimism baseless, campaigner says

Anti-nuclear campaigner Dave Sweeney from the ACF said he believed the announcement was without substance.

“There is nothing new in their statement,” he said.

“It’s pretty much a holding-pattern statement from a mining company with not a lot of resources, not a lot of projects, that are trying to continue to hold a place in the market, where the market is increasingly in freefall.

“Obviously, Boss is going to say the uranium price is going to soar — they’re a uranium miner.

“We’ve got major producers in this country … We’ve got a third of the world’s uranium and we’re not digging much, and that is because the price is not there.

Mr Sweeney said significant producers were deferring or halting development.

Rio Tinto, a massive mining company, is exiting at the Ranger mine in Kakadu,” he said.

“Cameco, the world’s largest dedicated uranium producer, has written down an asset that it spent $500 million on a decade ago in WA, and says that the best way to preserve the value of uranium is to keep it in the ground.”…….. https://mobile.abc.net.au/news/2020-01-22/honeymoon-uranium-mine-production-within-a-year-company-says/11889466

January 23, 2020 - Posted by | business, South Australia, uranium

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