New South Wales Productivity Commission slammed for recommending nuclear power while ignoring offshore wind,
NSW Productivity Commission slammed for recommending nuclear power while ignoring offshore wind, https://www.miragenews.com/nsw-productivity-commission-slammed-for-571554/
Maritime Union of Australia
The NSW Productivity Commission is under fire for recommending the NSW Government lift the state’s ban on nuclear power while ignoring proven, lower-cost renewable energy sources such as offshore wind.
Among 60 recommendations aimed at driving productivity and economic growth, the NSW Productivity Commission White Paper released this week proposed the ban on nuclear generation be lifted for small modular reactors.The same report made no mention of offshore wind generation, despite the proven technology producing a growing share of electricity around the world and several major proposals awaiting approval off the NSW coast.
This is despite the CSIRO’s most recent report on electricity generation costs showing that SMR nuclear reactors cost approximately $16,000 per kilowatt, nearly three times offshore wind. Recent UK analysis has found the cost of developing offshore wind is even lower.
The Maritime Union of Australia said it was staggering that the NSW Productivity Commission would recommend resources be thrown into small modular nuclear reactors — a technology that doesn’t yet exist — instead of cheaper, cleaner, proven technologies like offshore wind.“It is unbelievable that the NSW Productivity Commission would propose a major regulatory overhaul for a theoretical technology that doesn’t operate anywhere on earth, yet not even mention one of the fastest growing forms of energy generation,” MUA Deputy National Secretary Warren Smith said.
Rather than waste years debating a theoretical technology, which will come with huge costs and substantial safety concerns, the NSW Government should be getting on with supporting the development of reliable, cheap, and plentiful offshore wind resources.“The NSW Productivity Commission’s focus on an industry that doesn’t even exist, while ignoring a proven technology that can deliver power and jobs for NSW right now, shows an ideological pro-nuclear agenda has been put ahead of the state’s economic interests.“Small nuclear reactors have been promised for half a century, but as yet not one exists. Most countries with nuclear power are moving away from the technology, with new reactors running hugely over budget, requiring massive taxpayer subsidies, and locking in higher power prices for consumers.“In contrast, offshore wind technology continues to mature, delivering massive growth at ever-lower prices.
“Australia has the advantage of long coastlines close to population centres, along with highly skilled seafarers and offshore oil and gas workers who could be utilised to construct local wind projects.“The development of an offshore wind industry would also provide an opportunity to transition highly-skilled workers from fossil fuel industries into a clean, green alternative.“With the urgent need to reduce carbon emissions to address global heating, it’s absurd that the NSW Productivity Commission would suggest sitting on our hands for a decade in the hope a theoretical technology will magically fix the problem when we already have solutions available.“NSW has an opportunity to become a major exporter of clean, renewable energy, securing our economy for the future, but only if the Berejiklian Government takes immediate steps to support proven technologies.”
Small nuclear reactors for New South Wales ? – dirty, dangerous, and uneconomic
Expensive and dangerous: Nuclear doesn’t stack up https://www.miragenews.com/expensive-and-dangerous-nuclear-doesnt-stack-up-570069/m Electrical Trades Union
Lifting the ban on nuclear power generation in NSW using unproven small-scale reactors will only push up power bills, damage the environment and compromise safety, according to the Electrical Trades Union.
ETU National and NSW Secretary, Allen Hicks, said nuclear power would be hugely expensive compared to renewable energy, and that small nuclear reactors were still a pipe dream.
The recommendation around small scale reactors is one of 60 contained in the NSW Productivity Commission’s White Paper, which is supposedly designed to reboot the state’s economy.
“The Productivity Commission has lost the plot if it thinks small modular reactors, a technology that has been ‘just around the corner’ since the 1970’s but still doesn’t exist, is the answer to NSW’s productivity growth,” Allen Hicks said.
“Even if someone finally manages to build one that works, the electricity price forecast for their output is six times more expensive than renewables.
“Why does the Productivity Commission want NSW residents paying six times more for their electricity?”
“There are massive offshore wind projects waiting for federal approval off the NSW coast near Newcastle, Wollongong and Eden. Rather than pie-in-the sky nuclear nonsense we should get on with approving this clean energy and getting it into out grid.
The commission says lifting the ban would provide another source of firming capacity in the grid. But its own report admits “a wide degree of uncertainty” about small-scale nuclear reactors, mainly due to cost.
NSW Treasurer Dominic Perrottet said the government “will consider everything” in the report.
But Mr Hicks said the State Government must hit the stop button on nuclear power, as the business model for a dirty and dangerous technology did not stack up.
“Even if they improve the technology, a small modular reactor would take far too long to build, and we don’t have time to waste in the fight against climate change,” Mr Hicks said.
“Globally, most countries are moving away from nuclear power. Few new reactors are being built and nuclear companies are going bankrupt or facing financial distress.
Mr Hicks said the government should instead continue to focus on renewable energy.
“With a bit of foresight, some investment and some big thinkers, Australia is uniquely positioned in the world to become a renewable energy leader.
“Boosting the economy, providing more jobs, and dealing with climate change are big problems, but nuclear power is not the answer.”
Mulga Rock Uranium Project – VIMY’S MINE – UNWANTED AND UNECONOMIC
VIMY’S MINE – UNWANTED AND UNECONOMIC, https://www.ccwa.org.au/vimy_s_mine_unwanted?utm_campaign=nuclear_news164&utm_medium=email&utm_source=ccwa By Mia Pepper
Deputy Chair of the Mineral Policy Institute. BY KIM SMITH JUNE 02, 2021
Vimy Resources (aka Narnoo Mining) advertisement in Saturdays Kalgoorlie Miner is part of an extended last-ditch attempt to start a mine that is unwanted, uneconomic, does not have full and final approval or the financing needed to start mining.
Saturday’s ad suggests that Vimy will begin work at the site in Q4 2021. There are several critical elements for mining to commence that are not yet in place and are unlikely to be resolved by Q4 2021. The companies Mine Closure Plan and Mine Plan are not yet approved by the Department of Mines and previous attempts to have these plans approved have failed. There are also Works Approvals, export and other licenses and permits that are still required. The company does not have an Indigenous Land Use Agreement with the Upurli Upurli Nguratja Native Title claimant group – pre-empting mining without an ILUA drastically impacts that groups ability to negotiate or determine what should or shouldn’t happen on their country.
Perhaps the clearest pre-requisite to begin mining is a company’s Final Investment Decision and the finances to cover the capital costs. Without the ability to fund the project and meet the requirements of mining any ground-disturbing activities are pre-emptive and irresponsible. The capital cost for the Mulga Rock project is $493 million. Vimy’s March quarterly report shows Vimy raised over $18 million, since then they have raised a further $9 million. $27 million is a far cry from the $493 million needed to meet full capital costs. But it is enough to do some serious damage in the Yellow Sandplain Priority Ecological Community in the Great Victoria Desert, home to the endangered Sandhill Dunnart and other important vulnerable, migratory and priority species of flora and fauna. The company’s share value is down 97% since their inception in 2008 and has a long way to go to secure finance for a project that is just not economic. Until the company can demonstrate they have the capital funds to get the project off the ground they should not be allowed to embark on pre-emptive ground-disturbing activities.
One thing more dangerous than a uranium mine is an uneconomic uranium mine and ideologically driven company. Despite the lack of funding, final licenses and permits, an ILUA, social license and bipartisan support Vimy’s Mulga Rock project still presents a very real threat to the environment and the WA taxpayer. The WA government should make decisions based on evidence, not enthusiasm and should not facilitate this poorly considered project.
Australia/UK Free Trade Agreement will give corporations the right to sue governments.
Australia/UK Free Trade Agreement: What’s the Scam? https://www.michaelwest.com.au/australia-uk-free-trade-agreement-whats-the-scam/
by Michael West | May 31, 2021 The British Trade Minister has confirmed that corporations are likely to have the right to sue the Australian and UK governments if governments make laws which hit their profits. What’s the scam?
ISDS is the scam; Investor-State Dispute Settlement that is, clauses buried in “Free Trade” agreements, such as this one, which allow corporations to sue governments in obscure foreign tribunals. Australia’s most celebrated ISDS case was brought by tobacco giant Phillip Morris which sued Australia in Hong Kong when Australia introduced its wonderfully successful plain packaging laws.
“There are now over 1,000 known ISDS cases, with increasing numbers against health and environment laws, including laws to address climate change,” says Patricia Ranald convenor of the Australian Fair Trade & Investment Network (AFTINET).
“ISDS would give UK corporations the right to sue Australia over democratic legal changes in Australia. For example, British aged care company BUPA could claim compensation if the government follows the recommendations of the Royal Commission into Aged Care Quality and Safety and regulates for improved staffing levels and quality of care.”
Just another chapter in the saga of rising corporate power over democracy.
U.S. Energy Information reports uranium at lowest price since 2007
Uranium Week: Struggling With Low Prices
FN Arena Weekly Reports By Mark Woodruff May 25 2021, As the uranium spot price rose 2% for the week and 9% for the month, an EIA report revealed the lowest price paid since 2007 by owners and operators of US commercial nuclear plants
The US Energy Information Administration (EIA) released both its 2020 US Uranium Marketing Annual Report and its 2020 Domestic Uranium Production Report last week.
Despite covid roiling energy markets during 2020, the reports pointed to nuclear energy being a fundamental source of base load electricity generation (20%) with capacity factors steady at 94%, explains Canaccord Genuity. The broker believes coverage of future demand will continue to provide an impetus for a more active term market over 2021.
The EIA is responsible for collecting, analysing and disseminating energy information to inform policy making and efficient markets. It also adds to the public understanding of energy and its interaction with the economy and the environment.
The released reports in 2020 quantify developments in the US uranium industry, including decreased inventories, explains industry consultant TradeTech. They also showed an elevated aggregated contractual coverage rate among owners and operators of US civilian nuclear power reactors. Additionally, lower weighted average uranium prices and historically low uranium production were reported.
The Uranium Marketing Annual Report showed owners and operators of US commercial nuclear plants in 2020 purchased nearly 49mlbs uranium from US and foreign suppliers. These were transacted at a weighted-average price of US$33.27/lb, which represents a 1% increase in volume and a -7% decline in price compared to 2019 data. The weighted average price is the lowest price paid by owners and operators of US civilian power reactors since 2007.
Of the US deliveries, 76% were through longer-term contracts, averaging US$34.74/lb. As Canaccord notes, it’s always darkest before the dawn, with pricing failing to represent the marginal cost of production let alone the incentivisation price for restarts or new developments.
During 2020, 11.7mlbs or 24% of sales were on a spot basis, up from 10.5mlbs in 2019 and the highest since 2014. This illustrates that long-term contracts signed post-Fukushima (2011-2015) are starting to expire, explains Canaccord.
The report showed Australian and Canadian-origin uranium combined accounted for 42% of reported volumes by country of origin. Uranium purchased by owners and operators of US civilian power reactors from Russia again was the lowest weighted average price paid at US$25.73/lb, while purchases from Australia occupied the highest cost position at US$39.86/lb.;;;;;;;;;;;;;; https://www.fnarena.com/index.php/2021/05/25/uranium-week-struggling-with-low-prices/
Australia’s mining lobby exaggerates by $45 billion the taxes and royalties they pay
Mining lobby exaggerates taxes and royalties paid by $45 billion, Michaelo West Media, by Callum Foote | May 21, 2021,
The mining industry has exaggerated its contribution in taxes and royalties to Australian governments by an estimated $45 billion over the past 10 years. Callum Foote reports on the findings of an independent research project by Michael West Media.
The mining lobby and its “independent experts” from Deloitte Access Economics have routinely overcooked the contribution that mining companies make to Australia.
Michael West Media was commissioned to undertake an investigation into Australia’s mining royalty regime by the Neroli Colvin Foundation.
The report, A Fair Share?, found the mining lobby exaggerated by 19% its contribution to Australian government revenues through royalties and taxes for the period where government data has been made available, or an estimated $45 billion over the past decade.
The mining industry sold $2.1 trillion worth of Australian resources overseas in the past decade but Australian governments received less than a 10% return. The actual rate – 9.1% – covers royalty payments and taxes paid. If we consider only royalties, then the rate drops to 5.6% of the value of exported resources.
The mining industry regularly combines royalties and taxes but this is misleading when talking about its contribution to Australia.
Less than 10% of $2.1 trillion worth of Australian resources is perhaps not the “staggering” contribution as described by Resources Minister Keith Pitt earlier this week on the release of the latest Minerals Council report.
This is particularly the case given that the large mining houses are owned by foreign shareholders, so are the largest beneficiaries of Australia’s mineral wealth.
Michael West Media has found that, on average, mining companies make a 1654% revenue mark-up on Australian commodities………..
In Australia, all mineral commodities below the earth are owned by the Australian people. It is up to State and Federal governments to sell these commodities to mining companies that wish to extract and process them for selling. In accounting terms, royalties are deemed to be a “cost of goods sold”.
Just as a baker must buy raw flour from a mill and process it into bread to sell, royalties are the payment made by miners to the Australian people for the raw commodities that they then sell internationally.
Deloitte’s most recent report is more accurate than previous estimates of mining taxes and royalty payments. Michael West Media had contacted the firm for comment before it published this report because it was found that royalty and taxation figures were previously exaggerated by 33%, or $78 billion, for the period between 2010 and 2017………
The total export value of Australian commodities over the period, which is indicative of the revenue these companies have made from selling Australian resources overseas, is $2.1 trillion. This means that only 9.1% of the export revenue made by these companies has been paid to state and federal governments. ……………. https://www.michaelwest.com.au/mining-lobby-exaggerates-taxes-and-royalties-paid-45-billion/
Chinese-Australian uranium and rare earths mining company meets political opposition in Greenland
Left-wing party opposed to rare earth mining project wins Greenland election, A left-wing environmentalist party opposed to a controversial mining project won a clear victory in Greenland’s parliamentary election, according to results released Wednesday. https://www.france24.com/en/europe/20210407-left-wing-party-opposed-to-rare-earth-mining-project-wins-greenland-election 7 Apr 21,
With 36.6 percent of the vote, Inuit Ataqatigiit (IA) was ahead of Siumut, a social democratic party that has dominated politics in the Danish territory since it gained autonomy in 1979.
“Thank you to the people who trusted us to work with the people in the centre for the next four years,” IA leader Mute Egede said on KNR public television after the results were announced.
IA, which was previously in opposition, is expected to grab 12 out of the 31 seats in the Inatsisartut, the local parliament, up from eight currently.
But without an absolute majority, the most likely scenario is that IA joins forces with smaller parties to form a coalition. Siumut, which headed the outgoing government, was partly weakened by internal struggles. It gained 29.4 percent of the vote, still two percentage points higher than its results in the 2018 election.
The dividing line between the two parties was whether to authorise a controversial giant rare earth and uranium mining project, which is currently the subject of public hearings.
The Kuannersuit deposit, in the island’s south, is considered one of the world’s richest in uranium and rare earth minerals — a group of 17 metals used as components in everything from smartphones to electric cars and weapons.
IA has called for a moratorium on uranium mining, which would effectively put a halt to the project.
Divisions over Kuannersuit originally triggered the snap election in the territory after one of the smaller parties left the ruling Siumut coalition.
Opponents say the project, led by the Chinese-owned Australian group Greenland Minerals, has too many environmental risks, including radioactive waste.
Egede told KNR he would immediately start discussions to “explore different forms of cooperation” before forming a coalition government.
The 34-year-old, who has been a member of the Inatsisartut since 2015, took over the reins of the left-green party a little over two years ago.
Australian company Silex with Canadian company Cameco buys out GE-Hitachi Global Laser Enrichment LLC (GLE)
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US government approves GLE restructure WNN, 19 January 2021 A proposed restructuring of GE-Hitachi Global Laser Enrichment LLC (GLE) has received the final key approval from the US government. The restructure will see Australian research and development company Silex Systems and Canadian company Cameco Corporation increase their holdings in the company to 51% and 49%, respectively.GLE has exclusive rights to commercially develop the SILEX laser isotope separation process technology under an agreement reached between GE (now GE-Hitachi) and Silex in early 2006. Cameco joined the project in mid-2008. GE-Hitachi in 2016 announced its decision to leave the venture, leading to GLE’s restructure. Silex and Cameco in December 2019 agreed to jointly purchase GE-Hitachi Nuclear Energy’s 76% interest for a total of USD20 million, and the three parties executed a binding Membership Interest Purchase Agreement (MIPA) for the restructure of GLE.
Silex yesterday said the US Department of the Treasury Committee on Foreign Investment in the United States (CFIUS) has approved the transaction under the terms of Section 721 of the Defense Production Act of 1950, after concluding that there are no unresolved national security concerns arising from the transaction. GLE earlier this month received notice from the US Nuclear Regulatory Commission (NRC) that it will be granted a stand-alone Facility Clearance, which will enable GLE to continue to operate under new ownership as a foreign owned entity, pursuant to closing of the MIPA…….. https://www.world-nuclear-news.org/Articles/US-government-approves-GLE-restructure |
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Australia’s environmental scientists intimidated, silenced by threats of job loss
 Australia’s environmental scientists intimidated, silenced by threats of job loss, Michael West Media, by Elizabeth Minter | Jan 17, 2021 The silencing of environmental scientists, as revealed in a study late last year, profoundly damages our democracy, wastes taxpayers’ money, takes a huge personal toll, allows fake news to proliferate and short-changes the public. Elizabeth Minter reports.
“I declared the (action) unsafe. I was overruled and … was told to be silent or never have a job again.” “We are often forbidden (from) talking about the true impacts of, say, a threatening process […] especially if the government is doing little to mitigate the threat.” “I was directly intimidated by phone and Twitter by (a senior public servant).” “… governments allow (industry) to treat data collected as commercial in confidence. This means experts most able to comment on the details of big mining and construction projects are hopelessly conflicted and legally gagged from discussing these projects in public.” “(Government) staff are rewarded or penalized on the basis of complying with opinions of senior staff regardless of evidence.” “I proposed an article in The Conversation about the impacts of mining […] The uni I worked at didn’t like the idea as they received funding from (the mining company).” All in a day’s workAll these comments, straight from the mouths of some of Australia’s most esteemed scientists, highlight the threats faced by ecologists, conservation scientists, conservation policy makers and environmental consultants, whether they are working in government, industry or universities. The scientists were responding to an online survey as part of a study conducted by academics Don Driscoll, Georgia Garrard, Alexander Kusmanoff, Stephen Dovers, Martine Maron, Noel Preece, Robert Pressey and Euan Ritchie. In an ironic twist, one of the research team’s initial members declined to contribute to the project for fear of losing funding and therefore their job. As the study’s authors note, scientists self-censor information for fear of damaging their careers, losing funding or being misrepresented in the media. In others, senior managers or ministers’ officers prevented researchers from speaking truthfully on scientific matters. This means important scientific information about environmental threats often does not reach the public or decision-makers, including government ministers. This information blackout, termed “science suppression”, can hide environmentally damaging practices and policies from public scrutiny. Survey methodology……….Ministers not receiving full informationSome 75% of the scientists surveyed reported having refrained from contributing to public discussion when given the opportunity – most commonly in traditional or social media. A small number self-censored conference presentations (9%) and peer-reviewed papers (7%). For scientists working in government, the main reasons they didn’t comment was because of attitudes of senior management (82%), workplace policy (72%), a minister’s office (63%) and middle management (62%). Fear of what would happen to their career prospects (49%) and concern about media misrepresentation (49%) also discouraged those working in government from speaking publicly. Almost 60% of scientists working in government and 36% of scientists in industry reported that internal communications were modified………… Critical conservation issues suppressedThe most common issue on which information was suppressed was threatened species. About half of industry and government scientists, and 28% of academics, said their commentary was constrained. Scientists working in government also reported not being able to comment on logging and climate change………….. The system is brokenOf those scientists who had spoken publicly about their research, 42% had been harassed or criticised for doing so. Of those, 83% believed the harassers were motivated by political or economic interests……. Change is neededAs witnessed by the past four years of Donald Trump’s presidency, it has never been more important to ensure that the public are exposed to facts and information from trusted sources……. The study was published late last year in Conservation Letters, a journal of the Society for Conversation Biology. https://www.michaelwest.com.au/australias-environmental-scientists-intimidated-silenced-by-threats-of-job-loss/ |
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Can a new mine save BHP’s loss-making Olympic Dam?
Can a new mine save BHP’s loss-making Olympic Dam? Peter Ker,Resources reporter
Nov 18, 2020 – There’s a school of thought at BHP that the best way to fix its loss-making Olympic Dam mine is with a bulldozer.
By demolishing the old smelter, refinery, acid plant and other surface infrastructure that so often cause the inconsistency at the mine, advocates say BHP could start again by spending a few billion dollars on world-class infrastructure to allow it to capitalise on Olympic Dam’s extraordinarily large copper, gold, silver and uranium resource….(Subscribers only)…. https://www.afr.com/companies/mining/can-a-new-mine-save-bhp-s-loss-making-olympic-dam-20201026-p568sn
Superannuation funds are leaving investments on nuclear weapons
 Disarmament treaty drops bomb on super funds investing in nuclear weapons, Michael West Media , by Margaret Beavis | Nov 2, 2020 Many superannuation funds exclude investment in “controversial weapons” but astoundingly this definition does not include nuclear weapons. However, this will change once the Nuclear Disarmament Treaty becomes international law, writes Dr Margaret Beavis. With two of the largest pension funds in the world already having divested, Australian funds are on notice.
It would probably come as a surprise, and a disappointment, to most Australians to hear that some of their superannuation is invested in nuclear weapons. Especially given the strong community backing for nuclear disarmament, with two surveys in 2018 and 2020 (IPSOS) showing that between 71 and 79% of respondents supported Australia signing and ratifying the Treaty on the Prohibition of Nuclear Weapons. Yet the vast majority of superannuation funds have holdings in companies involved in the manufacture and maintenance of nuclear weapons. While many funds exclude investments in “controversial weapons”, astoundingly this definition often still allows nuclear weapons investment. But this is about to change. With the Treaty on the Prohibition of Nuclear Weapons (TPNW), which was endorsed by 122 countries at the United Nations in 2017, having just reached the milestone of 50 countries ratifying it, the treaty becomes international law in less than three months. Nuclear weapons, the worst of the weapons of mass destruction, will finally be on the same illegal footing as chemical and biological weapons. This means assistance of any sort, including financial assistance, towards nuclear weapons becomes illegal under international law. Only 26 companies support these weapons. Boeing, for example, the second largest weapons producer in the world, has contracts worth more than US$1.7 billion: building new nuclear weapons for the US, key components for the long-range nuclear Minuteman Intercontinental Ballistic Missiles system, sustaining the UK Trident II system and making tail-kit assemblies for the new B61 bombs. Divestment is accelerating. Globally, major investors are already ceasing their exposure to nuclear weapons activities. This includes two of the top five pension funds in the world, the Norwegian Government Pension Fund and ABP, which have divested from the 26 companies tied to nuclear weapons. Deutsche Bank and KBC are also divesting. In Japan, 16 banks (including three mega banks) have flagged ceasing investment in nuclear weapons companies. With accelerating divestment, the risks of holding nuclear weapons stocks increases. Superannuation funds in Australia are starting to consider the financial risks, reputational risks and ethical imperatives surrounding investments in nuclear weapons. Some, like Australian Ethical, Future Super and Bank Australia have already acted……… As with climate change, there is little point accumulating funds on behalf of the community if they contribute to the deaths of billions and a severely damaged future. Quit Nukes, an Australian-based campaign launched late last year, is working to get super fund portfolios out of the financing of nuclear weapons. The campaign members have met with senior executives at more than a dozen funds, the regulator APRA, several banks, index setters and a number of industry bodies. Blackrock, MSCI and other index setters have recognised the increasing demand from the public for ethical funds and have created products to suit. The full list of funds that have already acted is on the Quit Nukes website. Consumers are increasingly concerned about their funds being invested in destructive and unethical industries and super funds need to respond. https://www.michaelwest.com.au/disarmament-treaty-drops-bomb-on-super-funds-investing-in-nuclear-weapons/ |
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$3 trillion and 880,000 jobs to be lost, if Australia continues inaction on climate change
 Australia will lose more than $3 trillion and 880,000 jobs over 50 years if climate change is not addressed, Deloitte says, ABC News, By Kathleen Calderwood– 1 Nov 20 The Australian economy will lose more than $3 trillion over the next 50 years if climate change is not addressed, according to a new report from Deloitte Access Economics.Key points:
The report found the economy could shrink by 6 per cent over the next 50 years and 880,000 jobs could be lost. Report author Pradeep Philip, who was a policy director for former prime minister Kevin Rudd, said there was also a lot to be gained if warming was kept below 1.5 degrees and Australia achieved net zero carbon emissions by 2050. “If we do act over the next few years then in just 50 years there is a benefit to the economy of $680 billion,” he said. “We’ll have an economy 2.6 per cent bigger, generating 250,000 jobs, so this tells us if you are pro-growth and pro-jobs then we need to act on climate change now……. Businesses ‘moving despite Government inaction’ Sheep grazier and chair of Farmers for Climate Action, Charlie Prell, says the pressure is already being felt in his industry, but opportunities are available to help agriculture businesses get by if climate change is addressed………. https://www.abc.net.au/news/2020-11-02/australian-economy-lose-$3-trillion-climate-change-inaction/12837244 |
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Uranium: the mineral that never made sense now doesn’t even make dollars
Uranium: the mineral that never made sense now doesn’t even make dollars, 20 Oct 20, News that BHP, the world’s biggest mining company, will not continue with the long planned multi-billion dollar expansion of its Olympic Dam uranium and copper project shows the clock is ticking on uranium, the Australian Conservation Foundation said today.
The planned expansion of the mine in northern South Australia enjoyed strong state and federal government support and was on Prime Minister Scott Morrison’s recent list of major projects to be fast-tracked.
“This move is further evidence of the deep market malaise surrounding uranium operations,” said Australian Conservation Foundation campaigner Dave Sweeney.
“Today’s announcement shows that political access, spin and favours cannot change the realities of an ore body or the global commodity market.
“BHP has made a basic, hard-headed business decision not to proceed with this project.
“The global uranium price has been hammered since the Fukushima nuclear disaster and it is unlikely to improve. The sector has scant social license and is increasingly embattled.
“Today’s decision by BHP, coupled with Rio Tinto’s exit from operations at the Ranger mine in Kakadu, shows the clock is ticking on uranium, the asbestos of the 21st Century.
“South Australia’s energy, employment and economic options should not be tied to a continued dependence on high impact, low certainty resource projects.
“South Australia is well placed to lead the nation in renewable energy tools, technology and thinking.
“This decision may be the pivot needed to shift to a secure, sustainable contemporary economy.”
For context or comment contact Dave Sweeney on 0408 317 812
BHP dumps its plan to expand Olympic Dam uranium mine
BHP shelves $3.7bn expansion plan for Olympic Dam mine in SA for a second time
BHP has shelved a plan to spend $3.7 billion expanding the Olympic Dam copper and uranium mine – just months after the colossal project was put on a Federal Government fast-track. Cameron England, Business Editor, The Advertiser, 19 Oct 20,
BHP’s $3.7 billion expansion plans for the Olympic Dam mine have been abandoned.
The company had been looking at a Brownfields Expansion Project (BFX) which would have increased production from the current capacity of 200,000 tonnes of copper per year to as much as 300,000.
The project was one of a number of big ticket items earmarked for streamlined approval processes by the Federal Government in June in response to the COVID-19 pandemic and has major project status from the State Government……….
It is the second time BHP has scrapped plans for Olympic Dam. In August 2012, the company announced it had shelved its $30 billion expansion and would go back to the drawing board to find a cheaper alternative. Market conditions, subdued commodity prices and higher capital costs led to the decision eight years ago………
in its quarterly review released this morning, BHP said following more than 400km of underground drilling, which improved the knowledge of the ore body, it had decided to focus on incremental improvements, rather than a step change investment at the site.
“Following more than 400 km of underground drilling associated with the Brownfield Expansion (BFX) project studies, we have improved knowledge of the ore body’s variability,’’ the company said.
“This has provided challenges for the economics of the BFX project, and we have decided the optimal way forward for now is through targeted debottlenecking investments, plant upgrades and modernisation of our infrastructure.’………
BHP said Olympic Dam was performing well, and had posted its best quarterly performance in the past five years in the three months to the end of September.
“Over the next two years, our focus will remain on completing our asset integrity program to underpin more stable operations and copper production of more than 200 ktpa. We have a significant investment program in place to achieve that,’’ Mr Basto said.
“We will continue to study longer-term options for growth. Our enhanced understanding of the underground resources in the Southern Mine Area, promising results from Oak Dam and stronger foundations will help us unlock the full potential of Olympic Dam……..
In August, BHP announced Olympic Dam had made a full year loss before interest and tax of $US79 million, on revenues of $US1.463 billion. That was up from a loss the previous financial year of $US58 million on revenues of $1.351 billion.
China’s dramatic plan for switch to renewables – a warning to Australia’s fossil-fuel economy
 China just stunned the world with its step-up on climate action – and the implications for Australia may be huge, The Conversation, October 8, 2020, Hao Tan, Associate professor, University of Newcastle, Elizabeth Thurbon, Scientia Fellow and Associate Professor in International Relations / International Political Economy, UNSW, John Mathews, Professor Emeritus, Macquarie Business School, Macquarie University, Sung-Young Kim, Senior Lecturer in International Relations, Discipline of Politics & International Relations, Macquarie School of Social Sciences, Macquarie University
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1.This month
For updates: see Adelaide group Don’t Dump on SA https://www.facebook.com/dontdumponsa
No Radioactive Waste Facility for Kimba District https://www.facebook.com/noradwastekimba
And https://www.facebook.com/nodumpalliance
Please Sign: the Australian Conservation Foundation (ACF) sign on letter to federal Minister Pitt
Support the Barngarla People:
“Barngarla: Help us Have a Say on Kimba” to fund a legal challenge (judicial review)
Fundraiser by Barngarla People : Barngarla: Help us Have a Say on Kimba (gofundme.com)
Barngarla need as much support as we can to say NO to the Nuclear Waste Facility for KIMBA
Mahalia Bilney started this petition to Ken Wyatt (Minister for Indigenous Australians) and 1 other
Our Barngarla Mob need as much support as we can to say NO to the Nuclear Waste Facility proposed for Kimba! Help us fight to be heard and included in the importance of such a decision �� We won our native title to then be told we have no say and to go through this process all over again.
We don’t want the nuclear waste facility as they can’t guarantee it’s going to be safe and it will be a huge risk to the wildlife and environment. Not to mention the proposed areas are sacred and hold significance to my people and we don’t want more major damage to be caused, we want to try and preserve what we have left.
Research into this for yourselves, they say it’s low level but it’s technically high level! but our country marks it as low as our standards aren’t the same as the countries we’ll receive the waste from. It’s appalling and not wanted! So help us fight for our right to vote and hopefully stop it from happening
For international nuclear news go to https://nuclear-news.net
Appeal for Australian Government’s Actions on Japan’s Dumping Nuclear Wastewater into Sea
Submissions to the Senate Committee Inquiry into National Radioactive Management Amendment Bill. 2020. Go to our summaries of significant submissions, conveniently listed in alphabetical order at Kimba waste dump submissions or see all submissions listed at Read the Submissions
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Submissions to the Senate Committee Inquiry into National Radioactive Management Amendment Bill. 2020. Go to our summaries of significant submissions, conveniently listed in alphabetical order at Kimba waste dump submissions or see all submissions listed at Read the Submissions
