The Uranium Mining Gamble
The gambling is going on in both uranium markets. Some corporations gamble on selling old weapons uranium. Others gamble on digging uranium out of the ground and selling it – (if it goes belly up – well in Australia they’ll try to blame the Rudd government)
Companies Bet on Market for Enriched Uranium, Online Casino Guide, 21 June 2010, Changes in technology and vagaries like future arms control agreements can affect companies like Urenco and USEC.
Companies Bet on Market for Enriched Uranium | Online Casino Guide
…. projects such as BHP’s uranium and copper mine at Olympic Dam in South Australia. This requires billions of dollars in upfront investment projected to be recouped by cash flows in 2020 or later. The relatively high rate of return required is a function of many risks, including cost pressures and assumptions about the uranium market in 2020….. FT.com 20 June 2010,
Discredited Global Nuclear Energy Partnership resuscitated under a new name
In October 2007 a panel of the U.S. National Academy of Sciences condemned the plan – the Global Nuclear Energy Partnership (GNEP) as unproven and risky, and concluded that the program, even if pursued, would not be ready in time to deal with the commercial nuclear waste accumulating at 104 U.S. commercial power reactors and the waste expected to be added from any future reactors. The U.S. Senate and Congress were unwilling to pass funds for this grandiose plan.
The GNEP languished, discredited – until now. The same plan is now resuscitated, and re-launched under a new name – The the International Framework for Nuclear Energy Cooperation (IFNEC)
Senator Scott Ludlam raises nuclear problems in Senate Estimates
Reporting on Senate Estimates Committee, Scott Ludlam, 19 June 2010, Midway through week one, estimates got radioactive as it always does. A serious leak of radioactive water from the Ranger Uranium Mine into Kakadu National Park made my usual talk with the Office of the Supervising Scientist a little more interesting, with new revelations emerging about pollution spikes and long term impacts in Kakadu. Continue reading
Public kept in dark about radioactivity used in Sydney war games
Radioactive material used in Sydney games Herald Sun: AAP * June 18, 2010 AUSTRALIAN and American military forces reportedly used radioactive material during war training games across Sydney.The material was shifted around the city and its surrounding suburbs throughout May, the Seven Network reported on Friday Continue reading
Sweden’s pro nuclear decision by no means a sure thing
The Riksdag voted in favor of renewing nuclear power—….by the near-divided vote of 174-172. The left-leaning opposition party has vowed to reverse the legislation if it gains power in September’s general election…..Even if the overturn of the ban stands, political will alone does not new nuclear power plants make–as neighboring Finland can attest
Sweden Goes Nuclear (maybe) TIME, by Eben Harrell Friday, June 18, 2010, The Riksdag, Sweden’s parliament, voted on June 17 to overturn a three-decades old ban on new nuclear reactors in what many see as a test-case for the long-predicted “nuclear renaissance ” in Europe.The legislation annuls a a referendum in 1980 in which Sweden’s population voted against renewing or replacing the country’s fleet of 12 power plants…….
But yesterday’s vote is no simple victory for nuclear supporters. Continue reading
Renewable energy, Australian media, and BHP Billiton
Across the world’s media – so much about oil spill, about wonderful nuclear power, about soccer … but also quite a lot about Renewable Energy. Yes, renewable energy is happening, and it deserves more coverage.
Of course, in Australia, the news is all about the dreaded super profit resources tax, and how awful our P.M is supposed to be. They’ve done a good job – the corporate-dominated media.
Meanwhile –
BHP Billiton are probably finding this whole tax saga quite convenient, as there are several other factors holding up the expansion of Olympic Dam. China is cutting down on energy use. Uranium prices in the doldrums.
Apart from the serious legal and environmental concerns about Olympic Dam, there’s the unmentioned issue of seismic activity.
Last year’s incident that paralysed the main shaft activity is still a mystery. It could turn out the the whole expansion operation is unsafe and unviable, and BHP can conveniently blame the Australian government, when it abandons the project
UK support for Australian union’s stand against health danger of uranium industry
“We will be urging unions in the UK to join in the stand opposing nuclear- rather than joining the industry’s Compensation Scheme for Radiation Linked Diseases which has thousands of applicants and has paid out millions of pounds – with the caveat that you don’t talk about it,”
Radiation Free Lakeland backs Aussie unions’ nuclear stance , GETNOTICEDONLINE Uk 14 June 2010 Radiation Free Lakeland is supporting Australian unions who have banned members from working in the nuclear industry. Continue reading
Low price continues for uranium
Uranium oxide price shows no sign of moving | Industrial Fuels and Power News . Trading June 17th, 2010 by IFandP Newsroom The uranium spot market remains in the doldrums. The weekly spot price for uranium oxide hovered at US$40.75 in the week ended June 14 with no change from the previous week, according to Ux Consulting Co, a view echoed by TradeTech. Three transactions were reported with the gap between buyers and sellers remaining narrow at around US$1.00…… Uranium oxide price shows no sign of moving | Industrial Fuels and Power
Australian media publicising mining billionaires’ cheating message
On Australian TV we witness the unappetising vision of a bunch of billionaires looking like feral hippies – protesting against the government’s proposed super profit resources tax.
Well, of course – these impoverished underprivileged citizens want to have their 15% minimum profit, pretty much untrammelled by letting us – the great unwashed, and our descendants, get some benefit from this greed and environmental destruction.
It is sad that the Australian public can be conned in this way, due to media that is either bowing to its corporate ownership, or just too stupid or slack to see what is happening.
No wonder BHP, Rio Tinto etc are scared that other governments might get the idea of acting in the interests of their people, rather than of corporations. And it’s happening – – in the nuclear industry, as Germany is about to ring in a similar tax on nuclear power.
Australia’s national organisations in favour of super profit resources tax
It’s wrong for billionaires to hijack this debate and hold the country to ransom with their $100 million scare campaign.”
Australia needs a robust tax system with fair and efficient taxation of mining super profits The Australian June 14, 2010 A JOINT statement by the Australian Council of Trade Unions, Australian Council of Social Service, Australian Conservation Foundation and the Consumers’ Federation of Australia.
NATIONAL organisations representing social and community sector, unions, environmental and consumer groups have called for the voices of ordinary Australians to be heard in a tax debate that has been dominated by powerful vested mining interests. Continue reading
Miners want 15% profit – Olympic Dam uranium mine expansion might not proceed
Broker casts doubt on viability of Olympic Dam expansion, Sydney Morning Herald, BARRY FITZGERALD, June 17, 2010
BHP BILLITON’S proposed Olympic Dam expansion in South Australia’s outback could have no ”economic value” under the Rudd government’s hotly debated proposal to subject resource company super profits to an additional 40 per cent tax……. the assessment of mining analysts at Morgan Stanley, ”Our modelling of this project shows that the resource super profits tax reduces the net present value of the project to an extent that it becomes negative, and return on invested capital falls below the minimum hurdle rate of 15 per cent used by the mining industry.
BHP Billiton’s managing director, Marius Kloppers……. said that although BHP had not shelved or frozen projects in response to the proposed tax, Olympic Dam was the sort of high capital expenditure project with long lead times that was ”most disadvantaged”……But BHP has yet to commit to the project. Approval from the SA, Northern Territory (ore is exported from Darwin) and federal governments is needed and is planned for the first half of next year. The final proposal with all the permits and conditions attached is then likely to go before the board in the latter half of next year.
New tax on nuclear brings uncertainty into nuclear industry
if the plan is approved, other countries could adopt similar measures…the new move will bring uncertainty in the European nuclear sector,
Huge nuclear tax on the cards in Germany, World Nuclear News, By Rumyana Vakarelska, 15 June 2010 The German Ministry of Finance has envisaged an additional €2.3 billion ($2.8 billion) per year ‘windfall tax’ on nuclear operators as part of the 2011 Federal Budget and its financial plan up to 2014………..According to the German Finance Ministry the charge “will be necessary, as part of an overall energy concept, to prolong the operational life of nuclear power plants.” At a time when Germany is looking for tens of billions of euros in budget savings, the ministry said that the money will be used to meet nuclear decommissioning and final repository costs.….. Continue reading
W.A. Premier threatens compulsory Aboriginal land acquisition – gas now, uranium later?
Gas hub land may be compulsorily acquired ABC News (Australian Broadcasting Corporation), 15 June 2010, The Premier Colin Barnett has again foreshadowed compulsorily acquiring land north of Broome to build a Kimberley gas hub. Continue reading
Mike Rann – Premier for the Uranium Lobby
No unconditional support on tax –
Rann | Adelaide Now, Christopher Russell, June 16, 2010 Mr Rann formally opened the Australasian Institute of Mining and Metallurgy’s uranium conference 2010, being held this week at the Adelaide Convention Centre…….
AusIMM president Greg Chalmers said ……..”Uranium should have demonstrated green credentials and cost benefits if we can get over emotions versus logic.…….”
Uranium project stalled idefinitely by community opposition
A conglomeration of NGOs, civil society organizations including the powerful Khasi Students Union (KSU) is leading the agitations to prevent UCIL from starting the site activities. Opposition to uranium mining
(India) KPM Uranium Mining in Meghalaya: A Controversial Project | PRAGOTI, 15 June 2010, Problems in Meghalaya KPM project in Meghalaya has been mired in controversy right since its inception forcing the UCIL to stall its activities Continue reading
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