Qld uranium mining report welcomed by QRC

 

The Queensland Resources Council (QRC) has welcomed a report into the possible Recommencement of uranium mining in Queensland as an important step to developing a world-class uranium industry in the state.

Commenting on the report QRC Chief Executive Michael Roche said, “With latest estimates from the Australian Uranium Association valuing the currently known uranium resource in Queensland at $18 billion, establishing the ground rules for uranium mining in Queensland is an important step towards the realising the industry’s potential.”

Specifically, Roche was pleased that the report adopted a number of recommendations that had been submitted by the QRC:

  • Queensland’s existing mining, environmental and safety laws – with appropriate adjustments to cover uranium specific details – provide a solid framework for regulating uranium mining in Queensland
  • Queensland should adopt a competitive royalty regime for uranium
  • Queensland uranium should be exported through existing ports in Darwin and Adelaide, using existing shipping lanes.

The report has proposed a new mine concessional royalty rate of 2.5 percent for the first five years.

In addition, Roche welcomed that fact that the report proposed a training and business development trust to assist indigenous Queenslanders and allow them to benefit from uranium mining.

However, the report hasn’t been universally welcomed. According to the ABC, The North Queensland Conservation Council has pointed out that the recommendation that that uranium be shipped through Adelaide and Darwin may not be adopted by the Queensland government.

Indeed as the Herald Sun reports, Mining minister Andrew Cripps has refused to rule out the possibility of a future port in Townsville.

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