Cook Government not promoting Uranium Mining llustration: Don Lindsay
The potential for Western Australia (WA) to re-enter the global uranium market has been highlighted following recent comments from Premier Roger Cook. While promoting the state’s liquefied natural gas and carbon capture initiatives during a visit to Asia, he did not address the significant opportunities presented by WA’s uranium sector. Observers, including industry consultant Simon Corrigan, argue that with the right approach, WA could become a key player in the uranium market, which is increasingly vital for global energy needs.
Corrigan emphasizes that the promotion of liquefied natural gas and carbon capture is crucial for supporting WA’s trading partners in their decarbonization efforts. However, he notes that the absence of a robust uranium sector in the Premier’s discussions represents a missed opportunity for economic growth. He asserts that stringent international safeguards and regulations from the International Atomic Energy Agency would ensure that uranium exported from WA is utilized solely for energy production, similar to practices in other parts of Australia.
Countries around the world are actively seeking reliable energy sources as they transition to net-zero goals. Nuclear power, which generates electricity without direct carbon emissions, is viewed as a viable solution for nations lacking ample domestic energy resources. For instance, France relies on 57 nuclear reactors for approximately 67 percent of its electricity. Other nations, including Belgium, Sweden, Switzerland, and Finland, also depend on nuclear energy, while the United States generates nearly 20 percent of its power from nuclear sources, despite its significant natural gas reserves.
WA’s current ban on uranium mining, reinstated after the 2017 election, stands as a barrier to tapping into this lucrative market. Corrigan argues that this ban not only frustrates local industry stakeholders but also represents a substantial economic opportunity lost. The Chamber of Commerce and Industry of WA estimates that lifting the ban could create up to 9,000 jobs and generate $1 billion in annual economic value.
The state’s established reputation as a premier mining destination could be further enhanced by developing its uranium resources. Corrigan points out that WA is well-equipped with a skilled workforce and existing industrial capabilities to ensure that uranium mining is conducted under strict safety and environmental standards.
Drawing from personal experience, Corrigan recalls his tenure as Head of Corporate Affairs at BHP’s Olympic Dam, where he witnessed the positive impacts of a successful uranium project on local communities and businesses. He suggests that if such success can be achieved in South Australia, there is no reason it could not occur in WA.
Recently, Premier Cook appeared to express a more open stance regarding uranium mining, an encouraging sign for those advocating for the sector’s development. Even a statement indicating that WA is “watching this space” represents progress for those frustrated by the current restrictions.
Importantly, Corrigan notes that reversing the uranium mining ban does not require new legislation. A change in policy from Premier Cook and his government could see WA’s uranium sector operational by the end of the decade. He suggests that the Premier could easily align uranium with his existing messaging about WA’s role in reducing global emissions, creating a cohesive narrative around the state’s energy contributions.
The potential for WA to unlock its uranium resources presents a compelling case for economic diversification and growth. With the right policy adjustments, WA could not only enhance its standing in the global energy market but also provide a much-needed source of reliable energy for countries facing energy supply challenges.
