A move to strengthen Australia’s uranium export relationship with India is a significant opportunity for Australia’s uranium sector. The Association of Mining and Exploration Companies (AMEC) welcomes the move, as it re-ignites discussion around overturning mining bans in some Australian jurisdictions.
India has set an ambitious target to significantly expand its nuclear energy capacity, creating a major long-term opportunity for trusted suppliers of responsibly mined uranium.
Today’s announcement also highlights the strong position Australia holds on a global scale and why more uranium mining should be front of mind for policy makers.
AMEC Chief Executive Officer Warren Pearce commented, “Australia is ideally placed to help meet global demand for uranium. India’s nuclear energy expansion is exactly the type of opportunity Australia is positioned to capitalize on.”
“We know Australia has world-class uranium resources, with strong safeguards and a proven mining industry. Our uranium members should be part of a responsible, long-term supply chain that helps trusted trading partners meet growing energy demands.
“This is great news for Australia’s uranium industry and a clear reminder to the jurisdictions that currently have uranium mining bans, that it is time to rethink and overturn those bans.”
Australia holds some of the world’s largest known uranium deposits in South Australia and the Northern Territory. A stronger export pathway with India will help create further confidence for explorers, developers and investors.
Global demand for uranium is rising as countries search for secure, reliable and low emissions energy.
AMEC supports uranium exports under Australia’s strict safeguards and non-proliferation framework, ensuring Australian uranium is used for peaceful purposes.
“Australia should not be watching from the sidelines while competitor nations supply this growing market. This opportunity should also prompt a renewed focus on policy settings across Australian jurisdictions.
“South Australia and the Northern Territory continue to show that uranium can be responsibly mined under strong regulatory frameworks. In doing so it provides valuable jobs and royalties for the state.
“For too long, uranium has been held back by policy uncertainty and outdated restrictions in parts of Australia,” added Mr. Pearce.
If Australia is serious about being a global resources and energy partner, we need policy settings that allow responsible uranium exploration and development to proceed.
A stronger Australia-India uranium trade relationship is a great prompt for further debate about the long-term future of mining uranium throughout Australia.