PERTH (miningweekly.com) – The Minerals Council of Australia (MCA) has called for serious consideration to be given to advanced nuclear technologies like small modular reactors (SMRs), in Australia’s energy future.
“Even with conservative assumptions that include higher than expected construction costs, SMRs could be Australia’s lowest cost 24/7 zero emission power source that underpins reliable and secure electricity supplies,” said MCA CEO Tania Constable.
The MCA has released a report titled 'SMRs in the Australian Context', which provides an overview of the technology and highlights the potential role it could play in Australia.
“Looking at three of the most advanced SMR designs that are currently undergoing regulatory approval - NuScale’s Power Module, GE-Hitachi’s BWRX 300 and Terrestrial Energy’s Integral Molten Salt Reactor - the report has highlighted SMRs’ enhanced safety features and potential use,” Constable said.
She noted that the MCA had long advocated that Australia needs to consider zero emission nuclear energy, along with carbon capture, use and storage, and renewable energy, as the country moves to decarbonise the economy.
“Changes in the economic, trade, security, policy and technology environments in which Australia operates mean that all options for low-carbon energy sources must be considered. SMRs offer part of the solution to addressing this necessary requirement.
“With one-third of the world’s uranium reserves, Australia has a significant uranium mining sector, supplying about 10% of global demand. That is enough uranium to power almost the entire output of the national electricity market with low cost zero emission power.”
However, Constable noted that despite the abundance of resources, outdated federal and state bans on nuclear power have seen Australia fall behind as the only G20 country without access to nuclear energy or plans to develop it.
“Australia should take advantage of growing international interest in nuclear energy and look to expand its already significant uranium sector,” she added.