Abbott govt’s Review of Renewable Energy Target has caused slump in investment in renewables
Australia’s investment in renewable energy slumps 70% in one year The Coalition’s review of the Renewable Energy Target has caused investment in clean energy to drop below that of Algeria, Thailand and Myanmar theguardian.com, Friday 3 October 2014 Australia’s investment in renewable energy projects has slumped below that of Algeria, Thailand and Myanmar, new figures have shown, with the sector “paralysed” by the government’s review of the Renewable Energy Target.
Just $193m was invested in new large-scale clean energy projects in the third quarter of 2014, according to Bloomberg New Energy Finance. Investment in the year to date is $238m.
This represents a massive 70% slump on 2013 investment and has resulted in Australia slipping from the world’s 11th largest investor in clean energy to 31st in 2014.
This ranking is below Algeria, Myanmar, Thailand and Uruguay. By comparison, Canada has invested $US3.1bn in large clean energy projects so far in 2014.
The slowdown in renewable energy investment is pinned squarely by Bloomberg on the government’s review of the RET, which mandates that 41,000 gigawatt hours of Australia’s energy comes from renewable sources by 2020………
Kobad Bhavnagri, an analyst at Bloomberg New Energy Finance, told Guardian Australia that the renewables sector is “in the doldrums.”
The government’s position has caused this, it has had some pretty strong anti-renewables rhetoric, particularly anti-wind, and wants to close certain clean energy programs,” he said. “The review has been particularly protracted. The industry was fearful the recommendations would be extreme and they were. It has been shattering.
“I think the government has backed itself into a corner because the Warburton review lacks credibility. I don’t think it’s in Labor’s interest to agree to any changes to the target.”
Bhavnagri said that should the RET be scaled back rather than abolished, investment would resume but at around half its current level, meaning that $10bn would be invested between now and 2020.
The figures follow an analysis done by the Clean Energy Council and, separately, the Greens, which shows that New South Wales would suffer most if the RET was scrapped. An estimated $4.24bn in projected investment and 4,410 jobs in the state would be at risk if the scheme was dismantled.
“NSW will be the hardest hit if the RET is dumped, with huge negative implications for jobs growth, power prices and the environment,” said Greens senator Lee Rhiannon.
“The Greens will continue to work to retain and expand the Renewable Energy Target and to give the industry certainty.”http://www.theguardian.com/australia-news/2014/oct/03/australias-investment-in-renewable-energy-slumps-70-in-one-year
$30 billion expansion of Olympic Damn uranium mine will go ahead, says Tony Abbott
Prime Minister Tony Abbott predicts $30 billion Olympic Dam expansion will go ahead POLITICAL EDITOR TORY SHEPHERD THE ADVERTISER SEPTEMBER 30, 2014 A $30 billion Olympic Dam expansion is likely to go ahead “in the months and years ahead”, Prime Minister Tony Abbott says.
BHP Billiton shelved the expansion plans in the face of low commodity prices and spiralling costs. However the expansion moved a step closer recently, after the Government waived stringent environmental tests to let them trial a cheaper way of processing minerals…….
BHP Billiton is expected to give more detail on their plans at their AGM in Adelaide in November. Chief executive Andrew Mackenzie has said they have reduced costs and might be able to go ahead with a smaller or incremental expansion.
Before the election Mr Abbott pledged to create the economic conditions that would give the expansion the best chance of going ahead.
Federal ministers have met with BHP and have been talking up the prospects of the expansion …….http://www.adelaidenow.com.au/news/south-australia/prime-minister-tony-abbott-predicts-30-billion-olympic-dam-expansion-will-go-ahead/story-fni6uo1m-1227075708200
French company AREVA will get to have 51% interest , later more, in joint uranium venture with Toro Energy
Toro signs NT deal with AREVA https://au.news.yahoo.com/thewest/business/wa/a/25132512/toro-signs-nt-deal-with-areva/ The West AustralianSeptember 29, 2014 Toro Energy has signed a farm-in and joint venture agreement with French uranium and nuclear power giant AREVA in the Northern Territory.
The agreement covers a 2292sqkm tenement package in the Wiso Basin, southwest of Tennant Creek.
“Toro believes that its relatively unexplored Wiso Basin tenement package is ideally placed for exploring for a sandstone-hosted uranium mineralising system of a size and scale not unlike those found in Kazakhstan, where six of the world’s top 15 producing uranium mines are currently in operation,” the company said in a statement.
Toro’s managing director Dr Vanessa Guthrie said the company was excited to have AREVA participate in a substantial exploration portfolio at a time when few companies were actively exploring for uranium in Australia.
“We look forward to adding value to our NT exploration targets through a long and beneficial relationship with one of the world’s most respected uranium groups,” she said. Under the terms of the agreement, AREVA will spend $500,000 within two years of to earn a 51 per cent interest in the joint venture properties.
Upon reaching 51 per cent, AREVA will then have the option to spend another $1.5 million over four years for a further 29 per cent interest for a total 80 per cent stake.
Drilling is expected to begin in the first half of 2015.
Toro shares closed steady at 9.1 cents.
Fossil fuel industries lobby against solar power: gas joins attack by coal utilities
What neither industry likes to talk about is the pricing of the network – did they invest too much money in network infrastructure, and shouldn’t they take a write down on those assets, rather than just charging customers more?.
Gas networks attack solar policies, fearing mass defections By Giles Parkinson on 26 September 2014 Gas industry calls for solar hot water rebates to remove to try to slow down mass defections from gas networks it fears will be caused by soaring gas prices.
The Energy Network Association has released a report that suggests the industry could lose one quarter of its customers as a result of soaring prices. It says 1.15 million households could drop gas and defect to solar hot water in coming years. Continue reading
Investors representing $1 trillion lobby Abbott to keep Renewable Energy Target
Investors lobby PM on renewable energy http://www.investordaily.com.au/36340-investors-lobby-pm-on-renewable-energy 01 October 2014 | Staff Reporter A group of institutional investors representing $1 trillion has accused the prime minister of undermining the Renewable Energy Target.
In an open letter to Prime Minister Tony Abbott published in the Australian Financial Review, the Investor Group on Climate Change argued that the savings of more than 10 million Australians are invested in a “clean energy future”.
“The health of our economy is vitally dependent on investor confidence in government and the stability of its policies,” the letter said.
“For years we’re been investing the savings of Australians in projects on the basis of bipartisan support for boosting renewable energy,” it said.
“This is now at risk. Our investments, together with skilled industries and jobs that the Renewable Energy Target is creating, are at risk due to the uncertainty of your government’s commitment to the legislated 41,000 giga-watt-hour target.”
Australia ought to be growing renewable energy rather than “stepping back” from its international commitments, said the letter.
“Investors need predictable long-term policies to be confident to make investments in the energy sources of the future,” it said.
“This environment requires bipartisanship on the need for more renewable energy, not less. We encourage you not to change that now,” said the letter.
The Investor Group on Climate Change includes AustralianSuper, BT Financial Group, AMP Capital Investors, Colonial First State Global Asset Managers and Cbus among its members.
Melbourne and Moree get new solar businesses and employment openings
Spanish renewable energy firm sets up Melbourne-based subsidiary, THE FIFTH ESTATE 23 September 2014 Spain’s Elecnor Group has ignored the current political climate in Australia’s renewable energy sector and launched an infrastructure subsidiary based in Melbourne. ……..
Elecnor Australia’s first project is the $164 million solar photovoltaic farm in Moree, New South Wales for the Moree Solar Farm Company Pty Ltd, part of Fotowatio Renewables Venture. The joint venture originally included Pacific Hydro, which announced in August it was withdrawing from the project due to the policy-driven uncertainties impacting the renewable energy industry.
The Australian Renewable Energy Agency has contributed $101.7 million towards construction and operation of the project, and $47 million has been provided by the Clean Energy Finance Corporation.
Covering 191 hectares, the farm will comprise 232,960 panels with a forecast annual output of 150 gigawatt-hours direct into the main energy grid, enough to power about 15,000 homes. It is expected to be complete and commissioned by the second quarter of 2015.
In a media statement, Elecnor said Australia will be a base for it to expand operations in the Asia-Pacific region, focusing on developing business infrastructure and renewable energies………
The Moree project has already created a number of positions to be based at the town, with the firm earlier this month advertising for an assistant project manager (engineer), a construction manager, six technical engineers as sub-contract supervisors, mechanical and electrical engineers, a civil engineer, two draftpersons, accounts and administration, purchasing and logistics.http://www.thefifthestate.com.au/business/investment-deals/spanish-renewable-energy-firm-sets-up-melbourne-based-subsidiary/67877
Slashing of Renewable Energy Target will mean loss of thousands of rural jobs
Renewables energy suppliers warn on RET jobs http://www.businessspectator.com.au/news/2014/9/19/policy-politics/renewables-energy-suppliers-warn-ret-jobs 19 SEP,Suppliers working on Australia’s renewable energy projects say many thousands of jobs will be lost – most of them in rural and regional areas – if the federal government slashes the Renewable Energy Target (RET).
Forty small and medium businesses from around Australia have jointly written to the government, urging it to retain the current policy, rejecting the recommendations of the recent Warburton review to shut down or severely reduce the RET.
“We are writing as suppliers to Australia’s renewable energy industry, which has now generated more than $10 billion worth of investment in large-scale renewable energy projects,” the companies said.
The companies (listed at bottom) between them operate across all Australian states and territories. “Our businesses build electrical infrastructure, roads and components for power stations in wind, solar, hydro and bioenergy, along with supplying safety equipment, cranes, trucks and cement.
“They provide catering, cleaning services, security, logistics and accommodation to construction teams, manage environmental and cultural heritage plans, and supply many other essential inputs to the renewable energy industry.
“While the industry directly employs 21,000 people, our companies collectively employ many thousands more as a result of the clean energy sector.”
The companies, whose sizes range from 1 to 2000 employees, said Australia’s 68 wind farms, 49 large-scale solar projects, 139 bioenergy projects, 123 hydro projects and trial marine and geothermal projects had provided the incentive to grow and employ more workers.
“Many of these jobs are in rural and regional areas where other job opportunities are scarce,” they said.
“We have hired and trained workers and invested in our businesses on the basis of the development of renewable energy in Australia. Maintaining the RET in its current form will help us continue to create jobs and opportunities for Australian workers,” they wrote.
The companies also referred to analysis undertaken by ACIL Allen for the Federal Government, which found that retail electricity prices will be lower over the long term if the RET is maintained, as it will help shield Australians from rising gas prices.
“This is beneficial to all Australians, consumers and businesses alike,” the companies said.
Signatories: ………
Risks of uranium mining outweigh any benefits
Anti-uranium activists criticise NSW exploration program, Australian Mining 15 September, 2014 Vicky Validakis Anti-nuclear campaigners have criticised the NSW government for opening up the state to uranium exploration.
Last week the state government invited six companies to apply for exploration licences.
The move comes two years after NSW overturned a uranium exploration ban. Mining uranium is still restricted.
Three locations around NSW – near Broken Hill, near Cobar and south of Dubbo – have been earmarked for drilling activity.
Natalie Wasley, spokeswomen for the Beyond Nuclear Initiative, said the decision was disappointing, ABC reported.
“Uranium has very unique and dangerous properties and risks,” Wasley said. “It’s linked to the production of the world’s most toxic and long-lasting industrial waste, as well as proliferation of the world’s most destructive weapons, so it poses a risk to workers, to communities and the environment.”
Wasley said the sector will only create a small number of jobs, and claims the risks associated with uranium outweigh any economic benefits. “We know that in rural and regional areas there’s a much better opportunity for long-lasting sustainable jobs in the renewable sector.”
“We’d really encourage those local governments and the state governments to be putting money and resources into developing more creative, long-term and sustainable jobs for people.”……..
The six companies invited to apply for licenses are Australian Zirconia, Callabonna Resources, EJ Resources, Hartz Rare Earths, Iluka Resources and Marmota Energy. http://www.miningaustralia.com.au/news/anti-uranium-activists-criticise-nsw-exploration-p
Uranium mining still prohibited in New South Wales, and not considered economically viable
Uranium exploration in western NSW – but mining is still prohibited NSW Country Hour Sally Bryant and Julie Clift 15 Sept 14, The New South Wales Government has invited six mining companies to put in expressions of interest to explore for uranium, but mining will remain prohibited, until deposits prove economically viable.
However not all of the mining companies who are involved in this process are actually interested in mining for uranium.
One of six companies invited to tender for an exploration licence, Alkane Resources, is developing a rare earth project near Dubbo, in the state’s central west.
Alkane say they’re not interested in uranium, that they are merely protecting their rare earth project from other resource companies applying for an exploration licence over the top of them
Managing Director Ian Chalmers says this is an insurance policy for his company……..http://www.abc.net.au/news/2014-09-15/uranium-exploration-in-western-nsw/5743584
Uranium oversupply bodes ill for the future of the industry
Rally in Uranium Prices Is Unlikely to Last, WSJ, 14 Sep 14 Gains Fueled by Ukraine Crisis, Mine Unrest Don’t Offset Oversupply SYDNEY—A multiweek rally in uranium prices fanned by the Ukraine conflict and labor unrest at a large mine in Canada looks unlikely to continue for long as the reality of oversupply and lackluster demand sinks in among buyers of the nuclear fuel.
Industry analysts and some uranium producers believe that even as supplies fall, a substantial increase in demand is needed to drive prices up to levels that would make new investments worthwhile, when many operations are running at a loss……..
Demand for the fuel hasn’t recovered since the disaster at Japan’s Fukushima Daiichi nuclear-power plant in 2011, which sparked nuclear-plant closures across the country and tarnished uranium’s image globally…….
state governments in resource-rich Australia have been encouraging the growth of the nation’s uranium industry. A decadeslong ban on uranium production in Queensland was lifted in July, opening the door to new applications to build mines in the state. The government of New South Wales this month said it would invite six companies to apply for exploration licenses.
Still, there is expected to be little investment in new projects until the market stages a more substantial comeback. Cameco said it would need to see much higher uranium prices before it started construction of its proposed Kintyre uranium mine in Western Australia.
“The nuclear industry is still in the midst of upheaval,” said Jonathan Hinze, senior vice president at nuclear-research firm Ux Consulting Co. …http://online.wsj.com/articles/rally-in-uranium-prices-is-unlikely-to-last-1410726782
Forget the hype – Australia’s uranium trade with India is of little economic benefit
The future is renewable, not radioactive http://www.hindustantimes.com/comment/analysis/the-future-is-renewable-not-radioactive/article1-1263460.aspx?utm_medium=twitter&utm_source=twitterfeed Jim Green 12 Sept 14 India and Australia have signed a nuclear cooperation agreement that may open the door for uranium sales. However, obstacles remain and claims of an economic bonanza for both countries ignore facts.If Australia supplies 20% of that demand, uranium export revenue will increase by 3% — two orders of magnitude short of the figure in the Fairfax press.
Indian demand would have to grow ten-fold just to sustain one small uranium mine in Australia. Projections of exponential growth leading to hundreds of gigawatts (GW) of nuclear capacity in India should be disregarded. Continue reading
CLAIMS about the potential economic benefits of uranium sales to India are laughable.
Directly or indirectly, Australia will be fuelling a nuclear arms race in South Asia … for a pittance in return.
It is foolish and dangerous to sell uranium to a country that is actively expanding its nuclear weapons arsenal and refuses to sign the Nuclear Non-Proliferation Treaty or the Comprehensive Test Ban Treaty.
Opinion: Race to export uranium to India only has a booby prize http://www.couriermail.com.au/news/opinion/opinion-race-to-export-uranium-to-india-only-has-a-booby-prize/story-fnihsr9v-1227050580065 JIM GREEN THE COURIER-MAIL SEPTEMBER 08, 2014
- CLAIMS about the potential economic benefits of uranium sales to India are laughable.
Michael Angwin from the Australian Uranium Association claimed that Australia could sell 2500 tonnes of uranium annually to India by 2030, generating export sales of $300 million. A 2011 report in the Fairfax press claimed that uranium sales to India could generate $1.7 billion in annual exports.
Such claims ignore readily available facts.
According to the World Nuclear Association, India’s uranium demand this year will amount to just 913 tonnes – just 1.4 per cent of world demand. If Australia supplies 20 per cent of that demand, uranium export revenue will increase by 3 per cent.
Vanessa Guthrie from Adelaide-based uranium explorer Toro Energy, who is accompanying Prime Minister Tony Abbott on his trip to India, claims that by 2018-19 the uranium industry could generate 10,000 jobs.
But according to the most generous estimate, that of the World Nuclear Association, uranium mining and exploration account for just 1700 jobs in Australia – that’s 0.015 per cent of all jobs. So Guthrie anticipates a sixfold expansion in just five years, at a time when global nuclear power capacity is stagnant?
That’s laughable. Mr Abbott may struggle to keep a straight face as Guthrie dishes up this nonsense in India.
But there’s nothing funny about other aspects of the proposal to sell uranium to India. Continue reading
Rare Earths mining in Central Australia
Note: We mightn’t like mining, and it will be good when eventually product design is such that recycling of rare earths will pretty much eliminate this. Still, rare earths are needed in 21st Century technologies, especially in renewables. At least this company is not involved in the difficult and hazardous rare earths processing. I understand that processing is to be done in China, – where, after their disastrous history, they now do have the most advanced methods
Mining company Arafura Resources says plans to mine rare earth minerals in central Australia remain ‘on track’, despite uncertainty over future funding for the project, ABC Rural News 3 Sept 14, NT Country Hour By Carmen Brown
The company hopes to extract up to 20,000 tonnes of rare earth oxide per year from the Nolan’s Bore deposit, 135 kilometres north-east of Alice Springs in the Northern Territory.
A comprehensive project report released this week, indicates mining could begin at the site in 2019, six years later than previously expected. General manager of exploration and business development, Richard Brescianini, says while there has been strong interest in the project from investors, the company is yet to secure full financial backing for the mine……http://www.abc.net.au/news/2014-09-03/rare-earth-mine-on-track-for-central-australia/5715100
Queensland government wants India to invest in uranium mining in Queensland
Australia’s Queensland state seeks investment from Indian firms in uranium mining Business Today Anilesh S Mahajan August 29, 2014 A week before Australian Prime Minister Tony Abbott lands in New Delhi on his first trip to India, the Australian state of Queensland is soliciting investments from Indian companies to mine uranium…….
Uranium miner Paladin reports another big loss
Weak uranium price hits Paladin NICK SAS The West AustralianAugust 29, 2014 The weak uranium price has hit Perth miner Paladin Energy, with the company reporting a $338 million loss for the year.
Late last night the John Borshoff-run company reported a basic operating loss of $3.4 million – which it blamed on the weak uranium price – compared to its operating profit of $55.9 million last year.
The $338 million book loss came on the back of a $226 million impairment on its Queensland exploration assets, along with smaller impairments at its African mines.
The Kayelekera Mine, which it put on care-and-maintenance in May, was the main culprit in the operating blowout, with the mine reporting basic cash costs – but not all-in costs – of $US42.6 a pound.
The uranium price has been hovering around the $30/lb pound mark for much of the year……….
1 This month.
PETITION – To: Prime Minister Anthony Albanese and the Australian Labor Government
Chernobyl: The Lost Tapes – A good documentary on Chernobyl on SBS available On Demand for the next 3 weeks– https://www.sbs.com.au/ondemand/tv-program/chernobyl-the-lost-tapes/235274195556
19 May – Webinar- Webinar: No Nuclear Weapons in Australia
Start: 2026-05-19 18:00:00 UTC Canberra, Melbourne, Sydney (GMT+10:00)
End: 2026-05-19 19:30:00 UTC Canberra, Melbourne, Sydney (GMT+10:00)
20 May – Webinar – The dangerous world of AUKUS, US, military occupation and suppression of dissent
National Webinar, 20th May, 2026, 6.30pm AEST. Confronting laws restricting/suppressing protest speech and action
Speakers: Former Sen. Rex Patrick, Lawyer Nick Hanna ,Arthur Rorris ,Jorgen Doyle, Sen David Shoebbridge,
Facilitator Kelley Tranter.
of the week – Australians for War Powers Reform (AWPR)
To see nuclear-related stories in greater depth and intensity
Antinuclear 