Carl Curtain reports that Energy Resources Australia, uranium mining company, has called for rational thinking regarding the country future energy supply, suggesting nuclear power be seriously considered. ERA operates a uranium mine near Jabiru, held its annual general meeting in Darwin on Wednesday.
With Australia in the grip of a so-called energy crisis as a major gas shortage looms in 2018, chairman Peter Mansell pressed his company view on the national debate underway. The powers that be are stumbling in the dark to prevent a looming energy crisis, as the grid seeks to balance competing demands, both environmental and economic. While he made it clear any future expansion of Ranger uranium mine depended on economic viability, he said a national discussion on nuclear power would provide a boost to the industry.
Although mining ceased at the site in 2012, stockpiled ore continues to be processed, with the operating lease due to expire in 2021. ERA also holds an option to expand underground via its mothballed Ranger 3 Deeps project, but would face resistance from traditional owners.
The facts are that uranium is a reliable source of power, it is secure, it is free from emissions and on that basis, it certainly deserves to have a place in the mix, Mr Mansell said. We have never said that nuclear-power development is to the exclusion of renewables. We have never said that it is to the exclusion of coal or gas. It is all a matter of competition.
Meanwhile, ERA has announced an increase in the amount of uranium oxide produced in 2016, up 346 tonnes to 2,351. The company made $30 million last year as it attempted to reduce costs across its operation. Chief Executive Andrea Sutton told ABC Rural the company continued to face significant challenges, particularly with a record-low uranium price, and in the short term we see it continuing to be a challenging market, but in the medium to long term we do see that improve with rising uranium prices, she said.
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