Australian Uranium News

November has been a huge month for uranium news in Australia. Perhaps the biggest story to emerge was that a group of men charged with 'conspiring to plan a terrorist attack by manufacturing explosives' had been stopped outside the Lucas Heights nuclear reactor south of Sydney in December 2004. The revelation was a major cause for concern and highlighted the security risk of uranium usage in this country. Also making headlines was BHP's planned expansion of Olympic Dam to make iit the largest uranium and copper mine in the world.

In other news, lobby groups continued the push to develop the country's nuclear industry, while West Australian Labor Premier Geoff Gallup caused a stir when he effectively gagged debate on uranium mining in his state during the Labor Party conference. A nuclear waste dump looks set to go ahead in the Northern Terrotory after a federal government senate committee recommended it, over-riding NT laws, and shareholders in junior uranium explorer Deep Yellow were rather annoyed after a two-month extension to a trading halt, following doubtful drilling results.

A digest of the month's top stories appears below.

Deep Yellow investors brace for long wait

November 30, 2005: The board of wounded uranium junior Deep Yellow Ltd told confused shareholders at a lively annual general meeting in West Perth today that a trading suspension was unlikely to be lifted for at least two months because drilling results remain in doubt ... It was clear from the meeting that there was a significant level of uncertainty among those at the meeting, with some expressing their disappointment at "debacle" as one shareholder put it for the events which have also caused the companies share purchase plan to be put on hold. At the meeting, there was also confusion as to why Deep Yellow's shares remained suspended when there was nothing new to tell the market for such a long time... in WA Business News

Australia urged to reconsider nuclear alternative

November 29, 2005: Two Federal government ministers this week asked the Prime Minister to consider home-grown nuclear power in light of environmental concerns and a booming uranium industry that saw the value of exports rise 30 percent in fiscal 2005. "We can't responsibly dig 30 percent of the world's uranium out of the ground, export it overseas, and allow some 440 reactors to operate and expand in other parts of the world and not seriously consider this as an option for ourselves," Education Minister Brendan Nelson told the Nine Network. Prime Minister John Howard recently said nuclear should be included in the debate on energy options, while the Treasurer has led a group of cabinet ministers in saying such decisions should be left to market forces, provided safeguards are in place... at Reuters

NT Nuclear waste dump gets thumbs up

November 29, 2005: The Northern Territory will be forced to accept a nuclear waste dump after a government-dominated Senate committee recommended it go ahead. After just one day of public hearings, a Senate committee majority has backed the government's plans to override NT laws preventing a radioactive waste dump there. The Commonwealth Radioactive Waste Management Bill 2005 and the Commonwealth Radioactive Waste Management (Related Amendments) Bill 2005 give the federal government sweeping powers to override a range of laws, including any passed by the NT government that might frustrate the project... at Seven National News Online

Gallop reaffirms stance against uranium mining

November 29, 2005: West Australian Premier Geoff Gallop has labelled opponents to his state's ban on uranium mining as the "radioactive opposition", a day after he was accused of gagging debate on the issue."We oppose the mining of uranium and we oppose the establishment of a nuclear waste dump here in WA. You are not going to see WA become a part of the nuclear fuel cycle," Dr Gallop said. He said Opposition leader Matt Birney wanted "to dig it up and sell it", and state Nationals leader Brendan Grylls wanted set up a dump for spent fuel rods. "This is truly a radioactive opposition," said Dr Gallop... by AAP in WA Business News

Gallop labelled 'dictator' over uranium debate gag

November 27, 2005: The WA Opposition has accused the Premier of running his party like a dictator, after a debate on uranium mining was thwarted at the Labor Party conference this weekend. Premier Geoff Gallop exerted his authority yesterday, ending debate once and for all on whether Labor should revisit its anti-uranium position. A motion calling on Labor to examine future energy options, including uranium, was withdrawn at the last minute and replaced by a different motion reaffirming the Premier's position. "Let us here in Western Australia keep our clean green reputation," Dr Gallop said. The Premier's motion passed without a murmur... At ABC News Online

Land council to back N-dump

November 23, 2005: THE most powerful indigenous body in the Northern Territory has backed a controversial bid for a nuclear waste dump on its land, breaking ranks with the Territory Labor Government and environmentalists. The backing given by Darwin-based Northern Land Council chief executive Norman Fry at a Senate inquiry in Canberra yesterday also put it at odds with its erstwhile ally, the Alice Springs-based Central Land Council, which opposes the proposed dump for low-level waste. "The full council has taken a decision to look at it and not turn our backs on it because the issue will not go away," Mr Fry said... By Katharine Murphy and Nigel Wilson in The Australian

Costello urges WA to lift uranium mining ban

November 22, 2005: Federal Treasurer Peter Costello says Western Australia is missing out economically because of the State Government's refusal to lift its ban on uranium mining. The WA Opposition wants the Government to lift the ban and begin supplying the resource to safe markets such as the United Kingdom, which is understood to be planning to build a number of domestic nuclear power stations. But Premier Geoff Gallop is standing firm. "Uranium exports mean nuclear waste imports and we don't want either in Western Australia," he said... At ABC News Online

Uranium Explorer UXA Lists

November 22, 2005: Uranium Exploration Australia (UXA) is to begin exploration in South Australia after its shares listed in line with the issue price on the Australian Stock Exchange today. UXA shares opened at 11am AEDT at 20¢, on par with the issue price, but had fallen back to 15¢ cents by 12.21am. The company had issued 32,317,500 shares at 20¢ and 16,000,000 options exercisable at 20¢ before the end of March 2008... from AAP in The Australian Financial Review

Govts attacked over Olympic Dam Guidelines

November 21, 2005: The federal and state governments have been criticised for not including Australia's international responsibilities in draft guidelines for a proposed expansion of South Australia's Olympic Dam mine. Yesterday, the guidelines were released for public comment as part of the environmental impact statement for BHP's planned expansion of its copper, gold, and uranium mine... At ABC News Online

Australian forum to consider nuclear power options

November 17, 2005: Australia, with 41% of global uranium reserves, will assess nuclear power development at the Australian National Forum on Nuclear Power Options, being held in Sydney over the 20th and 21st of February, 2006. The consideration comes at a time of rapidly increasing oil prices, uncertainty over international energy security and concerns about global warming. The Forum will be watched closely by industrial leaders such as the United States and Japan, nations hungry for energy resources. Media Release publisehd at Scoop.co.nz

Deep Yellow trade halt after surprise test results

November 16, 2005: Shares in Subiaco-based uranium hopeful Deep Yellow Ltd were suspended from ASX trading yesterday after new test results on its Napperby site in the Northern Territory indicated a much reduced deposit. Deep Tellow said the "assays from the recent drilling at Napperby are vastly different to those previously reported based on the information supplied by Paladin Resources Ltd". Paladin is WA's most successful uranium group, having skyrocketed in value on the back of African production and Australian tenements. Deep Yellow shares have slumped from highs of around 19 cents in September to hit around 11 cents this week before suspension... By Mark Pownall in WA Business News

Perth miner to restart Bigrlyi uranium exploration

November 16, 2005: Energy Metals expects to begin exploring for uranium at a site 400 kilometres north-west of Alice Springs before Christmas. The Perth-based company bought majority control of the Bigrlyi deposit earlier this year. Executive director Lindsay Dudfield says a drill rig has now been tentatively booked, pending approval from the Territory Government. Mr Dudfield hopes the drilling will confirm the presence of uranium, discovered in the 1970s... From ABC News Online

Nuclear Attack in terror plot

November 15, 2005: THE order from radical Islamic cleric Abdul Nacer Benbrika was to inflict "maximum damage" as the Sydney terror cell planned a violent jihad in Australia. The Melbourne preacher met members of his alleged Sydney bomb-making cell in February and then again in July to offer guidance on how to wage a holy war, court documents say. The Sydney cell used coded text messages to organise early morning meetings to plan their conspiracy, which had as its potential target Australia's only nuclear reactor, at Lucas Heights in Sydney, a police statement of facts released yesterday by Sydney's Central Local Court reveals... By David King in The Australian

New high amplitude uranium anomaly for Prairie Downs

November 14, 2005: Prairie Downs Metals has hailed the discovery of a "new, high amplitude uranium anomaly" with "an anomalous set of elements remarkably similar to that at Olympic Dam" at its Coppermine Bore project in the Pilbara region of Western Australia. An airborne radiometric survey conducted by the company is said to have identified a high amplitude radiometric anomaly with a strike length of 1.2km northeast of the historic Coppermine Bore workings, where a second, lesser anomaly was identified.

Pressure mounts for uranium mining licence

November 11, 2005: Advocates in favour of uranium mining are taking advantage of strong community support in north-west Queensland to step up pressure on the State Government to grant a mining licence. Stakeholders met this week in Mount Isa to hear the managing director of Summit Resources, Allan Eggers, outline his submission to a parliamentary inquiry into Australia's uranium resources... At ABC News Online

Australia 'best' for nuclear waste dumping

November 7, 2005: AUSTRALIA is the best country to build an international nuclear waste dump, says the former head of Pangea, the British-backed company that tried to build one in outback South Australia. As pressure grows on Australia to build a desert facility, Charles McCombie, now executive director of the Association for Regional and International Underground Storage, a lobby group campaigning for an international nuclear waste site, plans to visit Sydney next year "and deliberately try to stir the pot regarding Australia," he said: by Dan Box and Tom Richardson in The Australian - Read the response from Dr McCombie in our opinion archive

Uranium: The supply shortage looms

November 4, 2005: The price of uranium has come off the boil a bit lately as far as the spot market is concerned. Merrill Lynch reports buying activity should begin to slow over coming months. But make no mistake, the price trend is still up, and a new global push for nuclear power is set to affect a widening gap between demand and supply over the next ten years. If there is one indicator of this trend alone, it is that buyers are no longer returning material to the market - uranium can be reused once, if not twice - but rather they have begun to hoard. Merrills suggests utilities have been adding to inventory holdings on concerns about future supply availability. Hoarding is not, however, the only indicator. Merrills' analysis shows that above-ground supply sources (inventories) are not expected to grow in the foreseeable future. Reflecting the market tightness, utilities have taken a more proactive approach to uranium purchases, focusing on locking in long-term contracts to avoid the vagaries of the short-term market. Consequently, the short term uranium price has more than tripled over the past 2 years to the current level of $33.00/lb... in The Australasian Investment Review

BHP Plans to expand Olympic Dam

November 4, 2005: BHP Billiton is planning to dig a massive crater a kilometre deep and three kilometres wide, in the middle of Australia's outback wilderness. The company is considering a major expansion of Olympic Dam in the far north of South Australia, to make it the world's largest uranium and copper mine: by Hayden Cooper at the ABC's AM Website

Rann is allowed to turn a new page on uranium

November 3, 2005 by Rex Jory in The Advertiser: POLITICIANS are not infallible. They must be allowed - indeed encouraged - to change their minds if they make mistakes. Today, Premier Mike Rann begins a two-day visit to Roxby Downs, the site of Olympic Dam, potentially the largest uranium mine and the fifth or sixth largest copper mine in the world. The Roxby project contributes about $35 million a year to the Government in royalties, but by 2012 this could rise to $100 million a year - the equivalent of $66.60 for every man, woman and child in the state. Mr Rann is keen to embrace the expansion of Roxby Downs now being assessed by the new owners, BHP Billiton. A potential investment of $5 billion into the South Australian economy in the next decade is a rich political prize. But in 1982, Mr Rann, then on the staff of opposition leader John Bannon, produced a 32-page book titled Uranium: Play It Safe , which raised serious doubts about the safety and financial viability of uranium mining in SA. On almost every page, Mr Rann minimises the likely importance of uranium and the Olympic Dam project. But, to be fair, on page 28 he underlines one of the iron rules of politics - never say never. Always leave the door of change and compromise open. Since he became Premier four years ago, Mr Rann has slipped quietly through that door.

Uranium industry needs to 'open up'

November 3, 2005: Australia needs to open up its uranium industry on environmental and economic grounds, a parliamentary inquiry has heard. Summit Resources managing director Alan Eggers told the standing committee on industry and resources that exporting uranium to developing countries for power production would help ease the impact of global warming: by AAP in The Age

NIUE: No mineable uranium says exploration company

November 2, 2005: Australian exploration company Yamarna Goldfields has announced it's pulling out of a project to possibly mine Uranium on Niue, after exploration drilling failed to find any commercially exploitable deposits. The Niue government had been quite excited by the announcement that Yamarna wanted to drill for uranium, with suggestions the tiny island nation could potentially be sitting on 10% of the world's uranium deposits. That anticipation has been dashed however, with the announcement from Yamarna that exploration drilling has turned up nothing of commercial use. Interview with Jemima Garret at ABC Radio Australia

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