Australian Government Urged to Promote Uranium Mining

Australia is the world’s third-largest producer of uranium and also hosts the largest endowment of uranium resources in the world.

Australia has to embrace the potential to expand its uranium-mining industry and be prepared for an expansion in nuclear power generation worldwide, the chairman of Energy Resources of Australia (ASX:ERA) said on Wednesday (April 11).

Australia, the world’s third-largest producer of uranium, hosts the largest endowment of uranium resources in the world, making up approximately 29 percent of the global total.

“Australia already has a market for its product,” said Chairman Peter Mansell, adding that there are 25 bilateral nuclear cooperation agreements covering 43 countries to export the country’s uranium oxide.

“Australia should be looking to capitalise on the eventual rebound in demand for uranium oxide and be prepared for an expansion in the nuclear power generating industry, especially in developing countries,” he added.

Mining giant Rio Tinto (ASX:RIO, NYSE:RIO, LSE:RIO) owns the majority of Energy Resources of Australia, which operates the Ranger uranium mine in Australia’s Northern Territory. The mine produced 2,294 tonnes of U3O8 in 2017, with production guidance for 2018 set at 1,600 to 2,000 tonnes of U3O8 from existing ore stockpiles.

Meanwhile, production at the Four Mile mine is at about 1,000 tonnes of U3O8 per year. The project is 100-percent owned by Quasar Resources, an affiliate of Heathgate Resources, which is in turn a subsidiary of US General Atomics. Four Mile has final processing through the Beverley plant in South Australia.

Anglo Pacific Group has a 1% life of mine NSR royalty on the Four Mile uranium mine in South Australia. 

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Facebook
    Twitter
    LinkedIn
    anglo pacific group plc

    More articles like this

    anglo pacific group plc

    Silver price ‘set to top $20’

    Silver prices rose on Monday while gold edged higher and European stock markets bounced, shrugging off concerns about a further acceleration of the global Coronavirus pandemic despite mixed economic news, writes Atsuko Whitehouse at BullionVault.  Shares in

    anglo pacific group plc

    Can copper protect against the new coronavirus?

    Over the past few months, there has been a surge in the market for materials laced with copper—including face masks, bedsheets, and socks—with manufacturers touting the metal’s germ-killing ability. But experts say consumers should be cautious,

    anglo pacific group plc

    Emerging technologies to drive silver demand

    The price of silver soared in May, jumping more than 19% on safe haven demand as well as increased expectations of a swift economic recovery, given its many industrial applications. Not only was this silver’s best month since

    anglo pacific group plc

    EVs will drive demand for nickel sulfate over the next decade

    In a newly-released report on the nickel sulfate industry, Roskill forecasts that the expanding EV industry will become the key driver of growth in nickel demand. In the past, the market for nickel sulfate was largely driven by the plating

    anglo pacific group plc

    Gold prices settle 1% higher

    Gold prices settled higher Tuesday as global equities staged a modest retreat after being buoyant for weeks on the back of the reopening of economies stricken by the coronavirus pandemic. Prices for the precious metals found

    anglo pacific group plc

    Silver on the cusp of a huge breakout

    Next to gold, silver is the most malleable and ductile metal. Throughout history, this has made it an ideal tool for artisans to create symbols of wealth and prestige, forging it to fit any shape or

    anglo pacific group plc

    Here’s Why Silver is a Unique Investment Hedge in 2020

    Max Greb, a Shanghai-based portfolio manager at Olivar & Greb Capital Management, has extensive experience in professional investment and wealth management consulting for individuals and families. When time permits, he shares his insight in this column

    anglo pacific group plc

    Gold gains as U.S.-China tensions lift safe-haven demand

    Gold prices rose on Friday, following a sharp decline in the previous session, as escalating trade tensions between the United States and China lifted bullion’s safe-haven appeal, though a stronger dollar kept gains in check. Spot

    anglo pacific group plc

    The history and value of gold

    Gold has emerged as one of the best performing asset class in 2020, gaining 15% year to date with prices hitting all time high in India. These gains are special as it has come after a

    anglo pacific group plc

    Silver futures rise on spot demand

    Silver prices on Monday rose 0.42 per cent to Rs 41,410 per kg in futures trade as participants widened their bets on firm spot demand. On the Multi Commodity Exchange, silver contracts for May delivery gained

    anglo pacific group plc

    Silver futures rise on spot demand

    Silver prices on Monday rose 0.42 per cent to Rs 42,227 per kg in futures trade as participants widened their bets on firm spot demand. On the Multi Commodity Exchange, silver contracts for May delivery gained

    anglo pacific group plc

    Silver futures up 2.46%

    Silver prices touched Rs 42,710 per kg on April 23 as participants increased their long positions. According to Silver Institute’s World Silver Survey 2020 report, rising demand for bar and coin from investors will offset the

    anglo pacific group plc

    Anglo Pacific mines a stream of dividends

    Anglo Pacific is a one-off in this country. It is the only listed business focused on mining royalties – which means the group provides cash to miners in return for a slice of their revenues.  Some