The largest known economic resources of uranium in the world are located in Australia. (AFP)

Delegates hoping uranium conference will boost industry growth

More than 300 delegates from around the world will attend today's second Australian Uranium Conference in Darwin.

The managing director of exploration and development company Uranium Equity says the conference will improve people's understanding of the uranium industry.

Mark Chalmers hopes the conference will also help to grow the industry in Australia.

"Uranium exploration development was basically near extinction," he said.

"There was certainly production from some of the existing mines but a combination of higher uranium prices, changes in the ALP's 'no new uranium mines policy' have all increased the interest in Australian uranium."

He says Australian uranium exploration and development has been dormant for more than two decades.

"One of most important things is that the largest known economic resources of uranium in the world are located in Australia, but yet we are the second largest producer," he said.

"So there's a tremendous amount of opportunity for Australia to become the largest producer of uranium in the world."

Monika Sarder from Australia's Institute of Mining and Metallurgy, says rigid uranium transport regulations are holding the industry back.

She says federal, state and territory governments need to rethink the limitations they put on the uranium industry.

"We're hoping that the regulations that are put in place are going to be based on best practice - how to still take the safest and most effective industry and that that will be based on a real awareness of risk as opposed to wanting to seem tougher on the industry because of a more emotional reaction to uranium," she said.

Meanwhile, the Northern Territory's Mines Minister Chris Natt says he will use the conference to try to boost exploration interest in the Territory.

"We expect probably 30 companies to spend between $12 million and $15 million exploring for uranium here next year," he said.

"So it's quite a big boost to our economy that this exploration is done in the Territory and I'll be promoting the Territory as a place to come to explore for uranium."

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