Uranium debate at top of resource agendaUranium debate at top of resource agenda
By CAMERON ENGLAND
02may05
THE annual South Australia Resources and Energy Investment Conference kicks off today, with the state's role in servicing world demand for uranium a hot issue.
The conference has attracted a record 260 delegates and 35 exhibitors, at a time when the state's uranium resources have been attracting attention from minerals explorers and investors.
"The uranium debate is heading for a meltdown at political, industrial, mining and investment levels," conference organiser Bill Repard, said last week. "This is being fed by massive international investment, particularly in China, in new nuclear power plants, and, a growing recognition to re-debate uranium as a future fuel, given the more public acceptance now of the negative environmental impacts of continued fossil fuel reliance.
"Simply put, the planet's power demands are outstripping its resources.
"Many see nuclear power, derived from the precious yellow cake, as the panacea to the problem. South Australia occupies a unique position in this regard.
"The state hosts two operating uranium mines, with one single mining operation alone - Olympic Dam - home to more than a third of the world's uranium resources.
"In addition, there are other Australian targets which could take the country's share of the world uranium resource, considerably higher."
Mr Repard said the greater public and investor support for uranium exploration was evident in the number of new mining companies that have counted uranium projects in South Australia as being among their key targets.
The two-day program, at the Hilton Adelaide from today, coincides with figures showing the search for minerals and energy in the state is at an 18-year high, with exploration expected to continue its climb next year.
Supported by strong metals prices and a government drilling incentive scheme, Program for Accelerating Exploration (PACE), exploration spending surged 55 per cent last year to $55.5 million compared to the previous year.
Six of the seven Adelaide-based uranium explorers have listed on the ASX this year, with chief executives of five of these companies speaking at the conference.