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On 19 March 2015 the South Australian government established The Nuclear Fuel Cycle Royal Commission to investigate the expansion of uranium mining and exploration of new uranium deposits in South Australia. [39] On 15 November 2016 the government decided to support all five uranium mining related recommendations made by the commission. [40]
Uranium is a widely distributed metal with large low-grade deposits that are not currently considered profitable. As of 2015, 646,900 tonnes of reserves are recoverable at US$40 per kilogram of uranium, while 7,641,600 tonnes of reserves are recoverable at $260 per kilogram. [ 2 ]
Two uranium mining projects in the state are closer to production, the 750 tonne U 3 O 8 Lake Maitland project, pursued by Mega Uranium, and the 680 tonne U 3 O 8 Centipede–Lake Way project undertaken by Toro Energy, located at Lake Way.
Despite Australia's position as the world's fourth-largest producer and holder of one-third of global reserves, uranium mining remains banned in Western Australia and Queensland.
Uranium mining in Australia began in the early 20th century in South Australia. At 2016 Australia contained 29% of the world's defined uranium resources. The three largest uranium mines in the country are Olympic Dam , Ranger Uranium Mine and Beverley Uranium Mine .
The benefits to Australia of uranium mining in Kakadu are mainly economic. Australia possesses 24% of the world's uranium deposits, [17] and the potential to export this uranium would benefit the Australian economy. From 2000 to 2005 nearly 50,000 metric tonnes of uranium oxide were exported from Australia to eleven different countries.
Uranium is produced from the Somair mine at Arlit, 63.4% owned by Orano Cycle and 36.66% by Niger state mining assets company Société du patrimoine des mines du Niger, known as SOPAMIN, and has produced nearly 68,000 tonnes (149,900,000 pounds) of uranium since operations began in 1971; and the Akouta mine at Akokan, owned by Orano Cycle (34% ...
Beverley is a palaeochannel uranium deposit. The uranium mineralisation (mainly coffinite) is hosted by loose sands in the channel of a former river. The ore bearing horizon is now at a depth of about 100 to 150m. The deposit is estimated to contain 21,000 tonnes of uranium oxide for a mine life of 15 to 30 years. [2]