Uranium Output To Quadruple In Two Decades, Says Ferguson

Published on Monday May 16 2011 (AEST)

Federal Resources Minister Martin Ferguson at a press conference at Parliament House in Canberra. Picture:

AUSTRALIA'S uranium output is expected to double in the next four years and quadruple within 20 years, Resources and Energy Minister Martin Ferguson said today.

Production in recent years has been hampered by wet weather at the Ranger mine in Australia's Northern Territory and a shaft failure at Olympic Dam in South Australia, Mr Ferguson said.

"If production meets predictions, tonnage will double within four years, and quadruple within 20," Mr Ferguson said in speech notes for an industry conference.

Although problems at Japanese nuclear power facilities caused by March's devastating earthquake and tsunami have led some nations to review their nuclear programs, Mr Ferguson said "nuclear power has a future".

"Nuclear is an important part of the energy mix for many countries. It is a cleaner energy option and powers millions of homes and businesses around the world," Mr Ferguson said.

Production from Uranium One's Honeymoon uranium mine in South Australia is expected to start in the "next few months", Mr Ferguson said, adding that BHP Billiton is now considering an expansion of Olympic Dam, which could boost its uranium output eight-fold.

Japan Won't Abandon Nuclear Power

Published on Monday May 09 2011 (AEST)

ATOMIC power will remain a major part of Japan's energy policy despite the ongoing crisis at one tsunami-crippled plant and a looming shutdown of another while its quake protections are improved.

Deputy chief cabinet secretary Yoshito Sengoku said no reactors other than the three units at the Hamaoka power plant in central Japan would be shuttered over quake and tsunami concerns.

There is "no need to worry" about other reactors, Sengoku said. "Scientifically, that's our conclusion at the moment."

The government evaluated Japan's 54 reactors for quake and tsunami vulnerability after the March 11 disasters that heavily damaged the Fukushima Dai-ichi plant in north-east Japan.

Chubu Electric Power Co., which runs the Hamaoka plant, is still considering the government's request to shut the reactors while the utility builds a seawall and improves back-up systems to protect the reactors from a major earthquake and tsunami.

Nuclear energy provides more than one-third of Japan's electricity, and shutting the three reactors would likely worsen power shortages expected this summer. Already, buildings have reduced lighting, stores have trimmed service hours and subway operators have shut air conditioning in a conservation effort in the capital region since the March 11 disasters.

After an executives' meeting Saturday failed to finalise a decision, Chubu chairman Toshio Mita left for Qatar to negotiate for liquefied natural gas supplies to cover the shortfall, company official Tatsuo Sawaki said.

The three reactors account for more than 10 percent of the company's power supply, company officials said.

Chubu Electric has estimated maximum output of about 30 million kilowatts this summer with the three Hamaoka reactors running, with estimated demand of about 26 million kilowatts.

"It would be tight," said another Chubu official Mikio Inomata, adding that officials are discussing possibilities of boosting output from gas, oil and coal-fuelled power plants and buying power from other utility companies.

The Hamaoka plant is a key power provider in central Japan, including nearby Aichi, home of Toyota Motor Corp.

The plant about 200km west of Tokyo has been known as Japan's "most dangerous" nuclear plant as it sits in an area where a major quake is expected within decades. About 79,800 people live within a 10-km radius.

Prime Minister Naoto Kan noted on Friday that experts estimate a 90 per cent chance of a quake with a magnitude of 8.0 or higher striking that region within 30 years.

"That makes Hamaoka an exceptional case," Kan told reporters on Sunday. He urged Chubu executives "to understand".

Since the March 11 disasters, Chubu Electric has drawn up safety measures that include building a 12-meter seawall nearly 1.5km long over the next two to three years, company officials said. Chubu also promised to install additional emergency backup generators and other equipment and improve the water tightness of the reactor buildings.

The Hamaoka plant lacks a concrete sea barrier now. Sand hills between the ocean and the plant are up to 15 meters high, deemed enough to defend against a tsunami around 8 meters high, officials said.

The operator of the Fukushima nuclear plant, Tokyo Electric Power Co., has said the tsunami that wrecked critical power and cooling systems there was at least 14 meters high.

Australian Energy Minister Backs Nuclear Power After Fukushima

Published on Wednesday May 04 2011 (AEST)

CANBERRA -(Dow Jones)- While the events at the Fukushima Daiichi nuclear plant in Japan have spurred a global re-assessment of the industry, Australia's Resource and Energy Minister Martin Ferguson said nuclear power will continue to play an important role in the global energy mix.

Safety must always be the first priority with nuclear power, and so the Australian government welcomes the reviews and any measures to strengthen and improve nuclear power systems that Fukushima has prompted, he said during a dinner speech for the South Australian Chamber of Mines and Energy.

"What I don't agree with are the comments by some that Fukushima spells the end of nuclear power and the end of uranium mining," Ferguson said.

There will be some changes in how electricity is generated, but for some countries nuclear will remain an important part of the mix as it goes to the question of energy security, he said.

In 2008, nuclear power accounted for 5.8% of total global energy supply, he said.

Australia holds a significant place in the global uranium industry. It hosts almost 40% of the world's recoverable resources of uranium, the fuel used to power nuclear reactors, though it meets less than 20% of global uranium demand.

Bid To Unlock Woomera's $35b Uranium Resources

Published on Tuesday May 03 2011

Parts of the Woomera Prohibited Area in South Australia's northwest could be opened up to mineral exploration after a new access plan is worked out.

The federal government today endorsed a final report on operations in the WPA, which covers 127,000 square kilometres.

Defence Minister Stephen Smith said the area would continue to play an important role in Australia's national security as a unique location for large-scale and long-range weapons testing.

But he said a new management framework would increase usage of the WPA by better balancing national security and economic considerations.

Defence will remain a primary user of the area, which will be divided into green, amber and red zones, each offering a different level of access to non-defence users.

A six-month moratorium on all but the most advanced applications for access to the WPA will allow the development of necessary protocols.

Federal Energy Minister Martin Ferguson said the Woomera Prohibited Area had great economic potential.

Mr Ferguson said it was estimated $35 billion of developments, including iron ore, gold and uranium projects, would be possible over the next decade.

Yesterday, South Australian Premier Mike Rann said unlocking the mineral wealth of the WPA would be a major boost to the state's economy.

"This will be a huge boost for our state," Mr Rann told a mining conference.

"It will give our economy the momentum and jolt to drive further development in the future."