Russia gets out of investment in Australian uranium company
Russia drops Mantra uranium deal after Japan quake, Google news, (AFP) – 18 March 11 MOSCOW — A subsidiary of Russia’s atomic energy agency said Thursday it was withdrawing its $1.16 billion offer for Australia’s Mantra Resources because of the nuclear power plant problems in Japan.The Australian company’s shares lost about a third of their value on the Toronto Stock Exchange on Wednesday in line with other massive losses suffered by the world’s big nuclear energy firms.The Russian Federal Atomic Agency’s ARMZ uranium producer said in a statement that the Japanese nuclear crisis fundamentally altered the Australian company’s long-term value…..AFP: Russia drops Mantra uranium deal after Japan quake
Australia’s uranium industry dream bubble about to burst
AUST URANIUM STOCKS CONTINUE TO SLIDE, Business Spectator, 15 March 11, Reuters Shares in Australian uranium miners fell further as Japan’s nuclear crisis deepened and several countries said they would reconsider their position on nuclear power. Continue reading
Australian uranium companies optimistic about future
Paladin supplies uranium to American and Asian nuclear plants, and while it has several exploration projects in Australia and Canada, he said the Japanese incident was ”hardly likely” to affect the business.
”It’s not going to have much significance in the long term,” he said……. Mr Crabb said it was ”ghoulish” and ”inappropriate” for anti-nuclear campaigners to be using the Japanese incident for political purposes…baser instincts, such as fear, may have a larger bearing on the market
Reactor reaction wipes $1.5bn from uranium holdings Sydney Morning Herald, Peter Ker March 15, 2011
MORE than $1.5 billion was wiped off the value of uranium stocks yesterday as the market reacted savagely to the nuclear crisis unfolding in Japan.
As explosions rocked Japan’s ailing Fukushima nuclear plant, the market seemed convinced the incident would harm ambitions for uranium to play a bigger role in energy production around the world. Continue reading
The devious politics of uranium mining – example Arkaroola
To thread their way through environmental protection laws and keep Marathon investing, supporters of mining in the sanctuary have performed a range of unedifying gymnastics.
For years, Labor has joined with Marathon in a flagrant misreading of the SA Development Plan.
SA Labor buckling on Arkaroola uranium?, Green Left Weekly, February 27, 2011By Renfrey Clarke,”……….As insurance against lingering environmentalism among government ministers, Marathon — one of whose largest shareholders is the Chinese mining group CITIC — has brought a suite of former Labor politicians on board. Continue reading
South Australian govt under pressure over Arkaroola’s environment
Some of the worst effects would be on the region’s scant groundwater resources….five million litres of water a day for mining and processing. “That’s a heck of a lot of water in a very dry environment,”
SA Labor buckling on Arkaroola uranium?, Green Left Weekly, February 27, 2011, By Renfrey Clarke, Adelaide Under heavy public pressure, the South Australian government of Labor Premier Mike Rann appears to be wavering in its support for mining uranium in the Arkaroola wilderness in the state’s north. Continue reading
Big Australian union comes out strongly against uranium mining
The ETU, which largely represents electrical, communications and power industry workers, says sections of the Labor movement are dead against uranium mining.
“The ETU has no doubt that, once reacquainted with the facts, the community will also continue to reject the idea of more uranium mining,”
Unions clash over Qld uranium ban, Sydney Morning Herald, Petrina Berry, February 17, 2011 Attempts by Australia’s biggest blue-collar union to overturn Queensland’s ban on uranium mining will face strong opposition from another major union. Continue reading
BHP Billiton to decide on Olympic Dam expansion in 2012
BHP Billiton to return $US10b to shareholders, Sydney Morning Herald, 16 Feb 2011, BHP Billiton plans to pour $US80 billion ($80.2 billion) into expansions over the next five years and return cash to investors rather than chase ambitious takeovers, after nearly doubling its first-half profit to a record……
BHP’s $US80 billion expansion plan over the next five years includes expanding its Olympic Dam copper and uranium mine in Australia, with a decision expected in 2012,…..
Aboriginals want a GENUINE study into Ranger uranium mine and water
Aboriginal people living in the area were worried about the health of their communities, wildlife and nearby world heritage listed wetlands. “The mining company – they wouldn’t listen to us,” she said…..The Gundjeihmi Aboriginal Corporation which represents the Mirrar is now calling for a study into surface water that comes out of the mine…
ERA rejects ‘poison’ mine water worry – ABC News (Australian Broadcasting Corporation), By Anna Henderson Feb 9, 2011 A senior traditional owner in Kakadu National Park is calling on the Australian government to reject plans to expand the Ranger uranium mine. Continue reading
Uranium exploration: South Australian Government ignoring Arkaroola Wilderness
Sanctuary ‘ignored’ on mining exploration ABC News (Australian Broadcasting Corporation) Feb 4, 2011 Arkaroola wilderness manager says she has been ignored on mining exploration Continue reading
2010 a slump year for Australia’s uranium
Poor year for Australian uranium, World Nuclear News, 25 January 2011 Australia’s uranium production took a hit during 2010, with the lowest volumes since 1998.
Total production was 6957 tonnes of uranium oxide (5899 tonnes of uranium, tU), compared to a high of 10,277 tonnes (8715 tU) in 2008, after problems including high rainfall at Energy Resources of Australia’s Ranger mine and the mid-year haulage system accident at BHP-Billiton’s Olympic Dam……Poor year for Australian uranium
Will South Australia sacrifice a national wilderness to a uranium company’s greed?
ARKAROOLA IS:
• on the Register of the National Estate
• a recognised geological monument,
• a Sanctuary under the National Parks & Wildlife Act
• an Environmental Class A zone under the Development Act
LET’S STAND UP FOR ARKAROOLA!, Amanda Rowe, 21 Jan 2011,
In 2007 mining company Marathon Resources had its exploration licence suspended after illegally dumping 22,800 bags of radioactive waste in Arkaroola Wilderness Sanctuary and stealing Fluorite from a site classified as a Geological monument. Continue reading
Wikileaks revealed the danger of selling uranium to Asia
The existing reality of massive investment in nuclear weaponry in poverty-stricken South Asia, and the potential for vastly worse outcomes, needs to be factored into debates over Australian uranium export policy……The problem is that IAEA safeguards inspections in India will at best be tokenistic.
Rolling the nuclear dice with Australian uranium The Punch, Jim Green, December 2010, Secret US cables concerning nuclear politics in South Asia provide important context for debates over Australia’s uranium export industry…… Continue reading
28% drop in REA’s Ranger uranium output
Energy Resources Australia uranium output down 28% – MarketWatch, By David Fickling, SYDNEY 13 jan 2011, — Uranium oxide produced from Energy Resources of Australia Ltd.’s (ERA.AU) Ranger mine fell 28% on the year in 2010, dropping from 5,250 metric tons in 2009 to 3,793 tons, the company said Thursday.
Danger of expanding Ranger uranium mine
Senator Scott Ludlam says Energy Resources Australia has a poor track record. “This isn’t an isolated incident. Right from the beginning this mine has been plagued with difficulties with accidents, spills and near misses,” he said.
Ranger uranium scare ‘not isolated’ ABC News (Australian Broadcasting Corporation), 7 Jan 2011, The Greens say a uranium scare in Kakadu National Park is evidence mining there should not be allowed to expand. Continue reading
Future demand for uranium now in doubt – prices hit
China technology could hit uranium demand , Financial Post, Peter Koven, 4 Jan 2011 China claims it has made a breakthrough. On state television, the country reported that it has developed technology to reprocess spent nuclear fuel. It has evidently worked on this process for more than two decades.This is a potential negative for uranium demand, because if true, China will be able to extract more energy from a given amount of uranium than it previously could. BMO Capital Markets analyst Edward Sterck pointed out ………“The news that China has developed MOX [reprocessing] technology could reduce future uranium demand and potentially weigh on prices….
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