Australian uranium mining greed puts profits above World Heritage ecology
Australian Mining Company in $400m uranium project in Tanzania, BUSINESS WEEK, 17 JULY 2011 , MARY JOHN, DARES SALAAM, TANZANIA – An Australian uranium mining company, Mantra Resources, plans to build a $400-million uranium mine in the Selous Game Reserve in Tanzania within the next three years…….
“We hope that UNESCO Heritage Committee will not halt the mining in the Game Reserve as it did recently in Serengeti National Park road project, considering the effect of the uranium activities to the environment,” said the analysts. Continue reading
Time that Australian govts stepped in to protect Kakadu from ERA’s dangerous uranium mining plans
little wonder that Ranger has been hammered by the market and described as Rio Tinto’s ”major shame in this country”…. the cold hard fact remains that no modern uranium mine has ever undertaken large-scale acid heap leaching let alone in the monsoonal tropics surrounded by a renowned World-Heritage site…
The time has come for the Northern Territory regulator the Department of Resources and the Commonwealth adviser, the Office of the Supervising Scientist, to ensure that ERA and the Ranger site addresses the systemic failures in tailings and water management and ends the habit of unnecessary risk taking. .
Need for greater mining rules to protect Kakadu, Canberra Times, BY GAVIN MUDD, 15 Jul, 2011 Plans to expand the Ranger uranium operations pose big dangers. Inside Australia’s largest national park lies one of the country’s most controversial mines. Earlier this year it came close to a serious failure that would have contaminated Kakadu, effectively forever. Now, instead of heeding the warning signs, it wants to expand. Continue reading
Anti uranium stance likely to return Western Australia’s Labor Party to power
“Campaign Capital director Daniel Smith, who commissioned the polling, said the polling indicates the state Labor Party may be able to exploit the issue at the next state election, after strengthening its opposition to uranium mining at its recent state conference.
“The polling indicates WA Labor’s reaffirmed opposition to uranium mining provides political opportunities in the marginal seats that will decide the next state election,” said Mr Smith.
“Among the swinging voters that will decide these elections, support for uranium mining was recorded at only 28 per cent.”
Japanese disaster hurts WA’s uranium support, Nick Evans , PerthNow , July 14, 2011 “……PerthNow has seen the results of recent polling put to 400 voters in four government held marginal seats – Riverton, Jandakot, Swan Hills and Mount Lawley – that shows opposition to uranium mining has grown since the Fukishima disaster in Japan.
Almost half the voters contacted by Western Australian Opinion Polls said they opposed uranium mining in WA, with 32 per cent of people saying they strongly oppose the idea.
Only 5 per cent strongly support the opening of uranium mines in WA, with total support running at only 32 per cent….. Continue reading
ERA uranium miner’s share loss, new project now unlikely
Like the rest of the uranium producers and explorers, ERA’s sharemarket rating has been hit by the fallout for uranium demand expectations from the Fukushima nuclear-power meltdown in March……..Analysts believe that ERA is unlikely to commit to the heap-leach project while Ranger continues to struggle with water-handling issues. The mine is surrounded by Kakadu National Park.
Rio Tinto on fire despite drenched Ranger, Sydney Morning Herald, Barry Fitzgerald, July 14, 2011“…….Water-handling issues at ERA’s Ranger mine in the Northern Territory have savaged the operation’s production levels. In the June half, production collapsed by 65 per cent to 601 tonnes of the radioactive material….
ERA is still a fraction of the company it was in October last year when it shares were selling at $14.78. The value hit stands at more than $2 billion, most of which is worn by Rio as ERA’s 68 per cent shareholder. Continue reading
Australia’s radioactive waste water problem at Ranger uranium mine
the company is not planning to start processing its radioactive waste water for two more wet seasons.
Mr Mudd says a higher dam wall will mean the company will have even more radioactive water to process.
“In that sense it is still the temporary, sort of step-by-step measures,”
Ranger uranium waste water treatment plan attacked, ABC News, By Jane Bardon, 5 July 11 An environmental engineer says Energy Resources of Australia (ERA) should not have reopened its uranium mine within Kakadu National Park last month without committing to a waste water treatment plan. Continue reading
Australian uranium companies’ share price tumble
Uranium Companies, Bloomberg, by Shani Raja, 2 July 2011, Mining companies sank as an index of metals traded in London dropped 3 percent through June 30, driven by reports showing that manufacturing growth in China, the U.S. and Europe slowed in May. Speculation that rising inflation may prompt Chinese authorities to raise interest rates cut the shares.
Uranium miners Paladin Energy Ltd. (PDN) and Energy Resources of Australia Ltd. (ERA)tumbled more than 30 percent as the crisis at Japan’s Fukushima Dai-Ichi nuclear plant continued to roil the global nuclear-energy market. Paladin’s valuation, at 1.6 times its assets, has fallen so much it may become a takeover target, Citigroup Inc. said in a June 21 report…… http://www.bloomberg.com/news/2011-07-01/australia-stocks-post-first-quarterly-loss-in-year-as-oil-prices-retreat.htmlhttp://www.bloomberg.com/news/2011-07-01/australia-stocks-post-first-quarterly-loss-in-year-as-oil-prices-retreat.html
IAEA report on safety of Lynas rare earths will be slanted in favour of the company
“How can we monitor daily? The risks of human error are too high,” she said, pointing out that the half-life of thorium was 14 billion years…..Fuziah promised that if the report from the panel, which includes members of the IAEA, was as she anticipated, she will continue to bring the issue to a higher level and exert pressure on authorities.
No confidence in Lynas safety review’, Free Malaysia Today Tashny Sukumaran, June 20, 2011, The IAEA report on the Lynas Corp is bound to be slanted and the human factor will not be taken into account, says Kuantan MP Fuziah Salleh. KUALA LUMPUR: Kuantan MP Fuziah Salleh is already second guessing the International Atomic Energy Agency’s (IAEA) report on the Lynas Corp’s rare earth refinery in Gebeng, Pahang.
She said she has no confidence in the independent panel’s safety review of the RM300 million Lynas Corp rare earth refinery . “I can imagine the outcome will contain acknowledgement of safety concerns, but also on how this refinery can be made safe,” said Fuziah. Continue reading
BHP Billiton moving senior staff away from Yeelirrie uranium project
Query on Yeelirrie after BHP moves PETER KLINGER, The West Australian, June 20, 2011, A fortnight after admitting it had put the Yeelirrie environmental approvals process on hold, BHP Billiton is understood to have begun dismantling the senior management team charged with overseeing WA’s biggest uranium development.
The miner is under enormous pressure from investors to find and develop projects that will make a material difference to its top and bottom linesComplicating the matter for BHP is that development of Yeelirrie would create significant political and community backlash in WA, where there is vocal opposition to uranium mining, in return for only modest financial rewards for the world’s biggest miner…..http://au.news.yahoo.com/thewest/business/a/-/wa/9669593/query-on-yeelirrie-after-bhp-moves/
BHP Billiton looks like pulling out of Yeelirie uranium mining
“the nuclear industry is increasingly unpopular and unprofitable and BHP Billiton has seen the writing on the wall for the uranium trade in WA”.
BHP’s Yeelirrie doubts reflect high risk and low return from uranium mining, 20 June 11, WA’s peak environment group today welcomed news that BHP Billiton’s Yeelirrie uranium mining project is indefinitely on hold, with growing speculation that BHP will pull out of the project altogether. Continue reading
Nuclear company AREVA tries to stop Koongarra’s Heritage Listing
federal Labor made an election promise last year to incorporate Koongarra into Kakadu, removing the possibility of future uranium mining there. Areva formally requested Australia to withdraw its nomination for heritage listing from the agenda of the 35th World Heritage Committee meeting, which will be held in Paris this week
French uranium challenge to Kakadu heritage listing, Lindsay Murdoch, Darwin, The Age, June 20, 2011
A FRENCH government-owned company attempted to block countries discussing an Australian request to expand the World heritage-listed Kakadu National Park to include land that contains uranium worth billions of dollars. Continue reading
Australia’s uranium industry hit as European countries reject nuclear power
The downturn in European interest in nuclear energy has now impacted Australia, the world’s third largest exporter of uranium oxide after Canada and Kazakhstan.
Fallout From Fukushima Rattles Australia’s Uranium Mining Industry, The Street, 16 June 2011 The slow-motion Japanese Fukushima reactor debacle has sent ripples worldwide, with Germany, Switzerland and Italy all now deciding to exit nuclear power. Continue reading
BHP Billiton’s huge free water extraction from Great Artesian Basin, for Olympic Dam uranium mine
Save the Great Artesian Basin From Olympic Dam Uranium Mine, Save the Basin, 10 June 11 THE BLOGGER IS A BHP BILLITON SHAREHOLDER. On 13 May 2011 the company announced a proposal for six-fold expansion of Olympic Dam Mine in South Australia – to extract the most valuable single mineral deposit in the world. The mine will consume up to 42 million litres of water a day from the Great Artesian Basin for plus 40 years.
THAT USE OF THE GREAT ARTESIAN BASIN BY THAT MINE IS THE ISSUE WHICH THIS BLOG ADDRESSES.
The justification by BHP Billition for its ongoing demand on the Great Artesian Basin is set out at 4.3.4 of Chapter 4 of the company’s Final Proposal published on 13 May, 2011. …
…The company does intend to increase GAB extraction by 9 million litres a day as part of the mine expansion – to that extent therefore the reference in the second paragraph to “…significant improvements in water use efficiency…” is deceptive. Not a drop of the “significant improvements in water use efficiency” is offset against GAB demand by the mine……
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The protection of the GAB from the expanded Olympic Dam Mine can be achieved through the Approval Process that is now in the hands of the Federal and South Australian Governments – in the form of the Conditions of Consent imposed on the company through the Approval Process.
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This issue should now be brought to the attention of every Member of the Federal and South Australian Parliaments. Readers of this blog may consider passing on the details of this site to your own Member(s) of those Parliaments. Or contact the relevant State/Federal Minister – see ‘USEFUL CONTACTS’ on this site).IN BHP’s VIDEO PRESENTATION THERE IS NOT A SINGLE REFERENCE TO THE FACT THAT OLYMPIC DAM WILL TAKE UP TO 42 MILLION LITRES OF WATER A DAY FROM THE GREAT ARTESIAN BASIN EVERY DAY FOR THE LIFE OF THE EXPANDED MINE (MORE THAN 40 YEARS). http://www.savethebasin.com/
Bad news for uranium shareholders
Paladin reacts to share price drop SMH, June 10, 2011 Uranium miner Paladin Energy Ltd has sought to dampen market rumours about the company’s financing arrangements, a potential capital raising and a potential sale by Newmont Mining of its 6.71 per cent stake in Paladin.
Paladin issued a statement on Friday to clarify its position, after the company’s shares came under “considerable selling pressure” for two days……http://news.smh.com.au/breaking-news-business/paladin-reacts-to-share-price-drop-20110610-1fvoe.html
EYE ON EQUITIES Analyst urges caution as First Uranium dips to all-time lows, DARCY KEITH Globe and Mail UpdateJun. 09, Shares in First Uranium Corp. (FIU-T0.56-0.02-3.45%) remain snuggled close to all-time lows after getting smacked Wednesday in response to weaker than expected fourth-quarter results. A resurgence in negative sentiment toward uranium producers after the Japanese nuclear crisis hasn’t helped matters.
Raymond James Ltd. analyst Bart Jaworski thinks investors may be wise backing away from the stock for the time being…..http://www.theglobeandmail.com/globe-investor/investment-ideas/features/eye-on-equities/analyst-urges-caution-as-first-uranium-dips-to-all-time-lows/article2053830/
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Rio Tinto and ERA’s shame in Ranger uranium mine and collapse of share price in collapse of
the collapse in the group’s share price from a 52-week high of $15 to yesterday’s closing price of $4.68 suggests, there is something very wrong with ERA….Most analysts now believe the development of a heap leach operation at Ranger will not proceed…
Ranger a ride of shame for ERA and Rio Tinto, The Age, Barry FitzGerald.June 8, 2011“……….Bad news is selectively released to brokers and analysts, keeping the dissemination of ugliness to assessments of what it means in share price terms.
That is the strategy Rio has employed with its major shame in this country – Energy Resources of Australia, the Ranger uranium miner, of which Rio owns 68 per cent. Continue reading
Australian Conservation Foundation call to govt about Olympic Dam uranium mine
The debate over BHP Billiton’s proposed new Olympic Dam open pit mine is entering a new phase as the Minister for Environment assesses and makes a decision on the company’s Final Environmental Impact Statement (EIS) in response to over 4000 public submissions.
The ALP Federal government should require BHP to address key public interests to avoid nuclear risks, to prevent environmental impacts and to commit to on-site copper processing.
BHP Billiton uranium impacts to drive down standards Australian Conservation Foundation, June 2011 BHP Biliton’s proposed new Olympic Dam open pit mine fails to comply with ALP policy commitments for the most stringent conditions
and to ensure world’s best practice standards in uranium mining. ACF calls on the Federal government to:
1. assess the option of copper mining and processing on-site, without uranium sales;
2. prevent leakage of tailings and isolate radioactive waste for at least 10 000 years;
3. extend the use of renewable energy from the desalination plant to all new operations;
4. re-locate the proposed desalination plant to prevent ecological impact from brine waste Continue reading
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