Australian Uranium Output To Double In 4 Years - Minister
13 May 2011 - 12:31PM
Dow Jones News
Australia's uranium output is expected to double in the next
four years and quadruple within 20 years, the country's resources
and energy minister, Martin Ferguson, said Friday.
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 state, Ferguson said.
"If production meets predictions, tonnage will double within
four years - and quadruple within 20," 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, 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," Ferguson said.
Production from Uranium One Inc.'s (UUU.T) Honeymoon uranium
mine in South Australia is expected to start in the "next few
months", Ferguson said. BHP Billiton Ltd. (BHP.AU) is currently
considering an expansion of Olympic Dam, which Ferguson said could
boost its uranium output eight-fold.
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692;
Ross.Kelly@dowjones.com
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