[Greens-Media] Uranium mining is financial dead end: Greens

[Norton, Tim (Sen R. Siewert)]

Uranium mining is financial dead end: Greens
Monday 3rd November 2008

The Australian Greens today urged caution on fast tracking uranium mining in Western Australia, following reports that BHP is considering rapid development of WA's largest deposit at Yeelirrie.

"The world uranium spot price has collapsed since July last year, and yet the industry is still behaving as though their imaginary 'nuclear renaissance' is actually happening," said Australian Greens nuclear spokesperson Senator Scott Ludlam.

The Greens have produced research which shows that the share price of the top ten uranium explorers in Australia have been decimated by the turmoil in financial markets, underperforming the market overall and well below the large diversified miners. 

"This is an industry on the way out. We should not tie the WA economy to the troubled fortunes of the world nuclear industry, nor jeopardise the health of our mining communities and the environment," said Senator Ludlam.

"I'm extremely concerned that Federal resources Minister Martin Ferguson and WA Premier Colin Barnett are undertaking discussions to fast-track uranium mining in WA, given the strong anti-nuclear sentiment Western Australians hold very close. This state elected the first person in the world on an anti-nuclear platform and an abiding sentiment remains."

"There is a huge swell of people standing up in opposition to uranium mining in WA. The peak body of major environmental, peace and Anti-Nuclear Alliance of Western Australia - ANAWA - are ready for a fight," said Senator Ludlam.

"Uranium mining is very dangerous to the health of workers and surrounding communities; wind carries radon gas and radioactive dust from the tailings, leading to miners consistently suffering increased rates of lung cancer. For every tonne of uranium oxide produced, hundreds of thousands of tonnes of wastes are left behind for thousands of years." 

"Uranium mining in Australia is a political, social, environmental and financial black hole. Mining companies will reap economic benefits for a decade but Western Australians will bear the brunt of this toxic legacy for millennia," he concluded.

For more information or media enquiries please call Tim Norton on 0418 401 180
senator.ludlam at aph.gov.au  |  www.scottludlam.org.au  |  www.greensmps.org.au