AdelaideNow... SA - the Uranium State

SA - the Uranium State


SOUTH Australia is the most attractive state for investors interested in mining uranium in Australia, Minister for Mineral Resources Development Paul Holloway said.
In his opening address at the Paydirt 2007 Uranium Conference Mr Holloway said while the National Labor Party's 'No New Mines' Policy on uranium mining was likely to change at the party's April conference, the states would probably then have to change their own policies to allow mining.
Mr Holloway said he was confident South Australia's policy change would follow shortly thereafter, but there was some uncertainty regarding the other states.
"The State Government's very confident the No New Mines policy will change, and that will represent millions of dollars worth of investment and hundreds of jobs," Mr Holloway said.
"The Premier wants it to change, the Deputy Premier wants it to change and I want it to change.
"The ALP needs to change its policy because here in South Australia there are projects that are well on the way to beginning the approvals process."
Mr Holloway told the 380 delegates from countries including China, India, Canada and from Europe, that the SA Government had the regulatory processes in place to approve uranium mines, unlike other states.
"The State Government here has been licensing and regulating uranium mines here for 20 years. The other states with the exception of the Northern Territory don't have that capacity.
"I urge investors to be careful when making investment decisions about which state they are investing in. I do urge investors to remember they will be welcome here in South Australia."
Mr Holloway said according to recent figures from the Australian Bureau of Statistics, uranium exploration in South Australia now accounted for 56 per cent of national expenditure, with about 60 companies exploring in the state.
"During the past 12 months the money spent on exploring for uranium in South Australia has topped $30 million, " he said.
"That's the highest figure for 25 years with about 60 exploration companies and prospectors currently holding more than 200 exploration licences for uranium in South Australia and a growing list of Adelaide-based uranium explorers listing or proposing to list on the Australian Stock Exchange.
"At this stage the uranium industry is in very good shape."
A group of about 10 protesters picketed the conference which was held at the Hilton, arguing that nuclear energy was not the solution to climate change issues.