The debate on Western Australia's continuing ban on uranium mining is heating up with a growing chorus of industry and government voices calling for an end to its opposition to uranium mining.
The debate on Western Australia's continuing ban on uranium mining is heating up with a growing chorus of industry and government voices calling for an end to its opposition to uranium mining.
WA uranium explorer Nova Energy said that the state government's stance on uranium mining was preventing development of uranium valued at $15 billion.
Nova chairman Tim Sugden told the 2006 Uranium Conference that Nova's Wiluna uranium deposit in central WA would generate $1 billion in revenue at current uranium prices.
"We believe you could multiply that figure by 15 times if all the potential projects in Western Australia could be developed," Mr Sugden said.
While the current WA government's policy leaves a valuable resource in the ground, Mr Sugden told delegates that he was confident growing political and public pressure could see the WA ban overturned within the next two years.
Currently uranium production in Australia is only permitted at Olympic Dam and Beverley in South Australia, and the Ranger mine in the Northern Territory.
Olympic Dam is the largest single uranium resource in the world.
Also, the Honeymoon mine site was given clearance for the construction of a uranium mine, but has deferred its decision to do so until economic conditions become more favourable.
The uranium industry is not the only group hopeful of a change of heart by Labor on uranium policy.
Labor's left wing federally, and its West Australian and Queensland governments, are firmly opposed to any change in policy.
New Western Australian Premier Alan Carpenter has continued the stance of predecessor Geoff Gallop in maintaing the WA state government's opposition to uranium mining.
South Australian (Labor) Premier Mike Rann and other Labor figures, including Australian Workers' Union boss Bill Ludwig, have called for an end to the party's policy of restricting the number of producing mines in the industry.
On the issue, Opposition Leader Kim Beazley said any decision to change the policy was a matter for party conferences.
The debate over uranium comes amidst renewed interest in the sector, with uranium company share prices on the rise and the federal government poised to sign a new export deal with China.
Australia is the source of around 40 per cent of the world's known uranium resources, and with approximately 60 new nuclear reactors expected to be built internationally over the next 20 years, there is good reason for the interest.
Nova's Lake Way and Centipede deposits contain an inferred 20 million pounds of yellowcake.
The company believes its location close to the surface would allow it to be quickly and economically developed.
