Opposition continuing to pursue Lynas rare earths project in Malaysia
”They will continue to pursue the judicial review cases to get the court to revoke the temporary licence given to Lynas on the grounds that Lynas still has no safe solution to tackle their radioactive waste,’
Lynas plant on line, protests to continue, SMH December 1, 2012 Glenda Kwek A MALAYSIAN environment group says it plans to continue campaigning for the closure of Lynas’ controversial rare-earths processing plant, as the Australian miner announced it had started production. Continue reading
Protests in Sydney: ‘Australian uranium fuelled Fukushima,’ , ‘BHP, Dirty Deeds’.
Uranium, LNG protests mar BHP AGM, http://m.theaustralian.com.au/business/mining-energy/uranium-lng-protests-mar-bhp-agm/story-e6frg9df-1226526641056 SARAH-JANE TASKER, November 29, 2012
BHP Billiton’s annual general meeting in Sydney today was the scene of vocal protests against the uranium assets of the world’s largest miner.
Four abseilers managed to scale Sydney’s Convention Centre and hang two banners, one with the message, ‘Australian uranium fuelled Fukushima,’ in reference to Japan’s 2011 nuclear disaster. The other banner read, ‘BHP, Dirty Deeds’.
Police riot squad and rescue officers attended the scene in Darling Harbour, where about 40 people gathered to protest against the miner. Various groups were concerned by uranium, coal seam gas and James Price Point, the $40 billion LNG joint venture project which BHP has a minority interest in.
At the start of the meeting, attended by around 600 shareholders, a vocal protester shouted her protests against uranium from the back of the room, following an address by chief executive Marius Kloppers.
Police at the scene today told AAP they expected to charge the abseilers.
A Friends of the Earth spokeswoman said the first pair of activists had been brought down by a police rescue team and taken to Surry Hills police station. The last two had climbed back onto the roof voluntarily and had not yet been detained, she said.
One of the groups was distributing an alternative annual report, Dirty Deeds, which was distributed to shareholders. The report focuses on the uranium and copper mine at Olympic Dam, South Australia, and the James Price Point project in Western Australia.
Additional reporting: AAP
Australian Senate defeats motion regarding the safety of uranium transport
Today, 29 November, senator Ludlam moved this motion on the safety of uranium transport. It was defeated in the Senate
That the following matter be referred to the Rural and Regional Affairs and Transport Committee for inquiry and report by 30 June 2013:
The role, adequacy and effectiveness of government regulation of uranium oxide transport, including:
a. the mitigation of public radiation exposure from uranium oxide transport;
b. the evaluation of the frequency and severity of transport and handling accidents including the 27 December 2011 train derailment resulting in toxic copper concentrate flowing into the Edith River;
c. the process of issuing and auditing compliance with transport radiation management plans;
d. the resourcing and conduct of transport related aspects of nuclear actions referred under the Environment Protection and Biodiversity Conservation Act (EPBC);
e. the preparedness and resourcing of regional emergency contingency planning, education and training services;
f. the Australian Radiation Protection and Nuclear Safety Agency Codes, including the Code of Practice for Safe Transport of Radioactive Material;
g. the Australian Safeguards and Non-Proliferation Office regulation of the transportation of nuclear material and issuance and auditing of compliance with transport permits;
h. other relevant related matters.
Greens motion to block Roxby uranium mine extension voted down
29 Nov 12, A motion in State Parliament moved by Mark Parnell MLC, Greens Parliamentary Leader, to block the four year extension to the controversial Olympic Dam Expansion Indenture has been defeated.
Ex-Treasurer Kevin Foley had also called publicly for the extension to be refused and former Premier, Mike Rann, said as recently as August:
‘We don’t believe there is a basis for an extension of the indenture arrangements’
“It’s not often I agree with Kevin Foley, but he is dead right on this one,” said Mark Parnell.
“We shouldn’t be extending the enormously generous concessions granted to the world’s richest resource company when it is abundantly clear BHP Billiton has no intention to start the Olympic Dam expansion for years.
“It’s in South Australia’s best interests to negotiate a better deal if and when the project gets resurrected,” he said.
In Parliament tonight, Labor combined with the Liberal party to defeat the Motion and ratify the 4 year extension.
On one of the most radioactive days in State Parliament for some time, the Greens also moved a motion calling on the Government to prevent the transport of uranium from Western Australia through our State. Adelaide-based Toro Energy Ltd is proposing to mine uranium in WA and ship the material to either Port Adelaide or Darwin through South Australia.
“It’s bad enough that SA uranium is being exported to facilities such as the crippled Fukushima reactor in Japan and hence into the broader environment through contamination. We shouldn’t be the conduit for WA uranium either. In both States, it’s best left in the ground”, concluded Mark Parnell
Toro Energy has to work hard to get financing for Wiluna uranium project
Toro pushes back financing on Wiluna ninemsn 29 Nov 12Toro Energy has pushed back financing negotiations for its proposed Wiluna uranium mine in Western Australia, as it waits for the federal government to decide the fate of the project. The move comes a month after WA Environment Minister Bill Marmion granted final environmental approval
for the state’s first uranium mine, in the Mid-West region.
Development can go ahead if Mr Marmion’s federal counterpart, Tony Burke, gives it the nod and the company’s board makes a final decision to proceed.
Managing director Greg Hall said the company anticipated a decision from Mr Burke by the end of the year after the minister delayed his decision by 30 days. “We anticipate it will take longer to secure a financing arrangement and hence it will take longer to make that investment decision in late 2013, Continue reading
Aboriginal run anti uranium organisation, from the bush to Toro Energy’s board room
A delegate from the West Australia Nuclear Free Alliance* will attend the Toro Annual General Meeting today in Adelaide to raise local concerns about their proposed Wiluna uranium mine in WA.
Vicki McCabe from Leonora and the WANFA committee said “We have fought against uranium mining in WA for a long time. We don’t want uranium mining on our country and want no part in the nuclear industry, not now not ever.”
“This country is far away from Perth or Adelaide, but it is our home. The Government say uranium is too dangerous to go through Fremantle, or Geraldton – Toro want to truck uranium right past my house in Leonora. If uranium is not good enough for Fremantle then it’s not good enough for the Goldfields.
Kado Muir, WANFA chairperson and Ngalia man from south of Wiluna said “When we’ve asked for assurance from Toro Energy that there won’t be any damage to the country they can’t provide it. Toro say to the Traditional Owners that if things go wrong they can sue them. That is no assurance that is a slap in the face.”
“Communities are stuck between a rock and a hard place – Native Title doesn’t allow you to stop an unwanted development on your country but it forces people into consultation. Companies like Toro are interested in ticking boxes and looking good but what they’re really doing is dividing and rail roading” concluded Mr Muir.
*WANFA is an Aboriginal run organisation representing communities across WA who are concerned about uranium mining. www.wanfa.org.au
In depressing uranium market, Australian uranium companies freeze development
Frozen: Uranium exploration on hold North West Star, Nov. 28, 2012 A GLOBALLY weak uranium mining price had led to a development freeze from Valhalla’s exploration company, but they insist the long-term outlook remain positive.
Paladin Energy, the company which is exploring uranium at the Valhalla deposit 40 kilometres North West of Mount Isa, recorded recent losses and frozen development due to the weak uranium price. In a statement, Paladin Energy said it would require a sustainable uranium price, at or above $81.78 Australian dollars per pound to warrant any further expansion or new mine development.
The current uranium price is $41.75 Australian dollars per pound.
Uranium miner Energy Resources of Australia expects to post a full-year loss of between $135 million and $155 million this year, blaming difficult market conditions for the cuts…..
The long-term outlook may not be so bleak with an independent investment researcher claiming there is promise. Senior independent researcher Claire Aitchison said uranium demand was supported by 63 new reactors under construction, 18 reactors undergoing power capacity upgrades and the anticipation of more Japanese reactors coming back online following the Fukushima incident.
However she warned another disaster on the scale of Fukushima could have a significant impact on the nuclear industry.
No hope for Queensland uranium mining, with no uranium market recovery in sight
Market reality to keep uranium riches in the ground despite lifting of mining ban, Courier Mail, by: Robert Macdonald November 26, 2012 WHEN Premier Campbell Newman unexpectedly announced the end of Queensland’s uranium mining ban in late October, the share prices of selected explorers soared.
It was just a spike. Once investors recovered from their initial glee at the overturning of the 20-year-old roadblock, the reality of a uranium market deeply depressed in the wake of the Fukushima nuclear power station disaster brought them back to Earth…….
The current spot price of uranium is less than $US45 ($A43) a pound (454g), which is barely two-thirds of the break-even cost of a modern uranium mine. The long-term price is higher, about $US60 a pound, but still barely profitable.
“I don’t think anything in the world would go ahead at the moment,” Laramide Resources vice president, exploration Peter Mullens said….. Continue reading
Kuala Lumpur: 10,000 march for 13 days, rally against Lynas rare earths processing plant.
The rally is a culmination of a 13-day march against the plant’s opening
Kuala Lumpur: 10,000 protest rare earth plant over health concerns Environmental activist group Himpunan Hijau organized the rally against the opening of rare earth company Lynas’ new plant. Global Post,Talia Ralph November 25, 2012 early 10,000 people took to the streets in Kuala Lumpur Sunday to protest the opening of Australia-based mining company Lynas’ new rare earth plant. Continue reading
In disastrous uranium market climate, uranium companies in cut throat competition
Did rivals try to scupper BHP’s uranium sale to Cameco?Mining.com, Frik Els | November 23, 2012 The West Australian reports rumours have been circulating in the state’s mining community that Rio Tinto (NYSE:RIO) and Paladin Energy
(TSX:PDN) attempted to sabotage BHP Billiton’s (LON:BHP) $448 million sale of uranium property Yeelirrie to Canada’s Cameco (TSX:CCO)….. The paper said Rio denied the rumours while none of the other parties commented, and that the deal is likely to be OK’d in any event.
Spot uranium prices have been drifting towards the $40 per pound level this year – well below the $66.50 prior to Fukushima disaster in Japan and down from historic high levels above $130 in 2007.
Last year nuclear power consumption declined 4.3%, the largest drop-off on record, said BP in its annual study of global energy use. Japan cut back nuclear power by 44.3%, and Germany reduced nuclear consumption by 23.2%.
http://www.mining.com/did-rivals-try-to-scupper-bhps-uranium-sale-to-cameco-87504/
Rio Tinto and Paladin Energy try to scuttle Cameco’s uranium mining plans in W.A.
there’s speculation the miners, who own their own uranium deposits, did not want Yeelirrie developed because of the already weak fundamentals in the uranium sector.
Paladin and Rio attempt to block BHP deal
http://www.miningaustralia.com.au/news/paladin-and-rio-attempt-to-block-bhp-deal 23 November, 2012 Andrew Duffy Rio Tinto and Paladin Energy have attempted to scuttle BHP Billiton’s $430 million sale of the Yeelirrie uranium deposit to Canadian giant Cameco. Continue reading
Paladin Uranium CEO predicts boom in uranium, especially for Japan
Paladin pins hopes on new Japanese govt, SMH, Kim Christian From: AAP November 22, 2012 URANIUM miner Paladin Energy hopes a new Japanese government will decide to restart the country’s nuclear reactors, as the price of uranium hovers around two-year lows.
Chief executive John Borshoff said that despite the shutdown of nuclear power stations in Japan after the Fukushima nuclear disaster, some reactors were now coming on line.
“We are confident that these will start coming back, working in the fleet in 2013, particularly with the change of government,” Mr Borshoff told the company’s annual general meeting in Perth on Thursday…..
He said that in order to meet worldwide demand, 15 to 30 mines would need to be built this year, an impossible task.
Paladin recently announced it will slash costs by up to $US80 million ($A76.97 million) and cut some staff after putting a freeze on development due to the weak uranium price. The company on Thursday reiterated production guidance for fiscal 2013 of between eight million pounds and 8.5 million pounds.
Shareholders on Thursday approved the company’s 2012 remuneration report, with seven per cent of votes cast against the 2012 report that showed Mr Borshoff earned $3.4 million, up from $2.5 million in 2011.
http://www.heraldsun.com.au/business/breaking-news/paladin-pins-hopes-on-new-japanese-govt/story-e6frf7ko-1226522231616
Malaysians and Australians in protest rally outside Lynas AGM
Protesters rallied outside the Lynas AGM to voice their opposition to the miner’s processing plant. Source: AAP http://www.theaustralian.com.au/news/breaking-news/activists-protest-miner-lynas-agm/story-fn3dxiwe-1226520502080 20 Nov 12, PROTESTERS outside the annual general meeting of rare earths miner Lynas in Sydney have vowed to maintain their opposition to the company’s controversial Malaysian plant.
The small band of 19 Malaysians flew to Australia over the weekend to stage Tuesday’s demonstration against the company’s rare earths processing plant currently under construction near Kuantan on the country’s east coast. Continue reading
Lynas Corporation did apply to Australian regulators for shipping radioactive waste back to Australia
Lynas defends Malaysia project amid ongoing protests Australia Network News, 19 Nov 12 By Canberra correspondent Stephanie March “….Members of the Malaysian Stop Lynas Save Malaysia movement have also met with members of the minority Greens Party.
The Greens are concerned not only about the development in Malaysia but also the possibility of radioactive waste from the plant being shipped back to Australia.
Lynas has applied to the Australian Radiation Protection and Nuclear Safety Agency (ARPANSA), a regulatory authority, for a permit to send the by-product back. “I think it is a ruse. I think the company has no intention,” said Greens Senator Scott Ludlam, the member for the area in Western Australia where the material would most likely be shipped back to.
“It is an alarmingly bad idea and I object to the idea they can hoodwink local residents that they have a safe dumping strategy for Australia, which we know would be difficult.” Continue reading
Uranium market down the drain, but CEOs can laugh to the bank
Borshoff collects some cash as Paladin shares head south November 17, 2012 Christopher Webb THE disposals table was topped this week by a large-scale sale by the managing director of Paladin Energy, where the share price has come under severe pressure recently.
John Borshoff collected $5.6 million from the sale of scrip at 94¢ apiece on Monday. The price has closed lower for each of the last nine days and on Friday lost as much as 8 per cent to 74¢, a level last seen early in 2005. Paladin is a one-time high-flyer that operates two uranium mines in Africa.
Chairman Rick Crabb said Borshoff’s sale was to release funds ”as part of the management of his personal financial affairs”…… http://www.theage.com.au/business/borshoff-collects-some-cash-as-paladin-shares-head-south-20121116-29ho8.html#ixzz2CWgzVyUU
Borshoff, a cut above http://www.theage.com.au/business/borshoff-a-cut-above-20121102-28pkf.html#ixzz2CWg9jYJs November 3, 2012 Peter Ker HE MAY have cut his salary by 25 per cent, but Paladin boss John Borshoff took home much more money in the year to June 30 than the year before.
The fine print of Paladin’s annual report reveals that despite honouring a promise to cut his salary between November 2011 and November 2012 – a promise extended to June 2013 – Mr Borshoff was able to boost his remuneration after a review of annual leave entitlements.
The review focused on annual and long-service leave in a bid to cut Paladin’s liabilities, and Mr Borshoff responded by cashing out 220 days of leave.
The transaction netted Mr Borshoff $1,717,000 and helped increase his remuneration to $3,464,000, well above the $2.26 million of the year before.
Mr Borshoff’s contract with Paladin has one year left, and provides him with three months’ long-service leave for every five years of service. He is entitled to two years of double base salary when he retires or has his employment terminated.
The 52 per cent rise in Mr Borshoff’s pay came in the year workers at the company’s uranium mine in Malawi had calls for a 66 per cent pay rise rejected.
Paladin maintained that Mr Borshoff’s remuneration is warranted, based on his expertise.
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