At the opening of the 2007 South Australian Resources & Energy Investment Conference in Adelaide on April 30, The Honourable Mike Rann MP, Premier of South Australia and Minister for Economic Development, commented: “We are today celebrating , and ‘celebrating’ is not too strong a word to use, a political and policy breakthrough of huge, long-term implications for the industry and the State. And that was the decision by the Australian Labor Party, at the weekend, to at last join the real world when it comes to uranium – to finally end its illogical, outdated and ineffectual ‘no new mines’ policy.
I’m very proud to have played a role in ending a policy that made no sense. I’m delighted that the ALP has scrapped a policy that had the potential to restrict the development of South Australia’s vast uranium resources.
The old ALP policy did nothing whatsoever to prevent the expansion of existing uranium mines, such as the Olympic Dam mine in the north of this State, which is poised to more than double in size. But the policy did represent a ban on the number of mines in existence. Under a Federal Labor government, this would have blocked exciting and potentially world-class projects like the Quasar-Alliance joint venture development of the Beverley 4 Mile site.
The ALP conference decision on uranium represents, from my point of view, ‘mission accomplished’. It’s a victory for common sense. It’s a victory for South Australia. And it’s a victory for your industry. The uranium policy change is great news for South Australia.
The money spent on exploring for uranium in South Australia has topped A$30 million, which is the highest figure in 25 years. According to the Australian Bureau of Statistics, 56% of Australia’s uranium exploration activity is occurring in this State. Today, about 60 companies and individuals hold a total of more than 160 exploration licences for uranium in South Australia and more than 100 further licences are being sought. There is a growing number of Adelaide-based uranium explorers listing, or proposing to list on the Australian Stock Exchange.
As of less than 48 hours ago, South Australia is now totally and completely ‘open for business’ in the area of uranium mining and export: a carbon-free energy source for the future.