Uranium outlook very bright

Supply being unable to keep pace with increasing demand represents good news for uranium producers and explorers owing to strengthening prices.

Demand shows no signs of slowing as many countries look for cleaner energy alternatives while the continuing urbanization of China and India means the need for more energy in these countries.

Nuclear power is seen by many as a solution to both these demand factors and the result is tremendous growth in the nuclear power industry.

Uranium prices have been somewhat slow to recover from the Global Financial Crisis which also saw a dramatic decrease in uranium exploration. The flow-on effect has been a shortage of uranium and this shortfall is unlikely to be met in the short term.

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Government must listen to industry

Now that the Australian Federal Government’s Policy Transition Group (PTG) has finalized face-to-face discussions with the mining industry about implementation arrangements for the proposed new mining tax, it is important that the industry’s concerns are addressed by the nation’s power brokers.

The PTG has held consultation sessions in Melbourne, Perth, Brisbane, Adelaide and Sydney in recent weeks and has received a large number of written submissions on the technical design issues associated with implementation of the Minerals Resource Rent Tax (MRRT) and the extended Petroleum Resource Rent Tax.

With the information gathered, the PTG is now considering the submissions and consultations before providing a final report to the Federal Treasurer by the end of the year.

There is no doubt that these discussions and consultations with the whole industry should have occurred much earlier in the peace, before the Resources Super Profits Tax (RSPT) and the subsequent MRRT were placed into the public arena.

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Vale Pike River coal miners

The entire global mining community is mourning the loss of 29 miners at the Pike River coal mine in New Zealand and offers condolences to the families of the miners and the community of Greymouth.
The tragedy has hit the mining industry hard, particularly the underground fraternity who share such a strong bond. The risks involved in any type of underground mining have helped create this bond among miners, no matter whether they are in China, Africa, Russia, the US, Australia or New Zealand.
Any mining injury is a cause for concern but when fatalities occur it becomes even more disturbing and brings about questions about the safety record of the industry.

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Global approach will benefit mining

With countries around the world having complementary resources, and industries needing these resources, only cooperation can lead to mutual benefits for the world’s mining industry.
This was one of the strong messages to come through at the annual China Mining Congress and Expo in Tianjin last week.
In addressing the conference, China’s vice minister of land and resources Wang Min called for deeper cooperation between China and other nations to help the mining industry recover from the global financial crisis.
While increasing its overseas efforts to gain resources, China is also regaining momentum in its domestic mining industry. Investment in China’s mining industry in the first eight months of 2010 totalled 530 billion yuan, up 20% year-on-year.

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John Miller, Editor

John Miller, Editor, The ASIA Miner
Editor, ASIA Miner and Australian Editor, E&MJ
[email protected]

Based in Melbourne, Victoria, Australia, John Miller has been working as a mining journalist for The ASIA Miner for the past seven years, focusing on mining developments throughout Asia and Australia. He was promoted to editor, The ASIA Miner, during July 2010, is editor of Coal Age Indonesia and has responsibility for E&MJ Australian coverage. John has more than 30 years experience as a journalist. He is also an author with more than five historical books published and a biography published. He has also served his community as a city Councillor and was mayor of Orange from 2002 to 2004.