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PERTH (miningweekly.com) – The Australian resources industry on Friday welcomed the Queensland state government’s call for applications for uranium mining in the state.
Mines Minister Andrew Cripps on Friday released a framework to ensure Queensland’s future uranium mines would adhere to the world’s best environmental protection and safety standards.
He said the Queensland government was committed to ensuring uranium mining was conducted in a way that ensured environmental protection and community safety.
“We want the community to know our framework includes strict environmental, health and safety standards to ensure safe handling and transportation,” Cripps said.
“It is now up to industry to decide when to lodge applications for uranium mining and those decisions will be influenced by a number of factors including global commodity prices, market supply and demand and mining costs.”
Cripps said the uranium industry had the potential to generate significant development in North Queensland, as well as royalties to public infrastructure. The Minister pointed out that each new uranium project had the potential to create a large number of construction and operational jobs.
Meanwhile, Cripps also announced the release of the abandoned Mary Kathleen mine, near Mount Isa, for competitive tender for rare earths exploration.
He said the release of Mary Kathleen mine would unlock significant deposits of rare-earth elements known to exist at the site, which, by the time it ceased production in 1982 was Queensland’s only remaining uranium mine.
“This competitive tender process will provide the successful tenderer with access to the high-value rare earths and other minerals present at the site. Unlocking Mary Kathleen means more long-term economic development and more job opportunities for communities in the north-west of Queensland,” Cripps said.
The Association of Mining and Exploration Companies (Amec) said on Friday that the Queensland government’s decision to accept applications for uranium mining was welcome news to the mining and exploration industry.
Regional manager Bernie Hogan said that while it would take time for any new uranium mines to start given the current economic conditions and competition for capital, the Queensland government was at least opening the door for new opportunities to stimulate the industry.
“However, by looking for cash tenders on the rare earths at Mary Kathleen, the Queensland government is simply limiting their opportunities. Amec has consistently argued that there is nothing competitive about a tender that can only be won by the largest operators in the industry.
“If the Queensland government was really committed to seeing Mary Kathleen reopened to supply jobs in the north-west and royalties and taxes to the state, the tender should be focused on who will develop the reserves soonest - not just the company that makes the biggest down-payment to lock up the opportunity again,” said Hogan.