WA Opposition aim to lift uranium mining ban

The West Australian06-12

The WA Liberals and Nationals have this week said they would lift the State Labor Government’s uranium mining ban if elected to govern in 2029.Their commitment comes as industry figures show the long-...

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GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thewest.com.au/news/regional/wa-opposition-aim-to-lift-uranium-mining-ban-with-long-term-price-doubling-in-past-four-years-c-22410751><strong>The West Australian</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The WA Liberals and Nationals have this week said they would lift the State Labor Government’s uranium mining ban if elected to govern in 2029.Their commitment comes as industry figures show the long-...</p>\n\n<a href=\"https://thewest.com.au/news/regional/wa-opposition-aim-to-lift-uranium-mining-ban-with-long-term-price-doubling-in-past-four-years-c-22410751\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IISV.AU","symbol_name":"INTELL INV SELVAL SHR FD 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Trust","GIVE.AU":"PERPETUAL ESG AU SHR EQMF","DACE.AU":"DIMENSIONAL AUST CORE EQ","SLF.AU":"SPDR S&P/ASX 200 LISTED PROP","IOZ.AU":"iShares Core S&P/ASX 200","GEAR.AU":"BETASHARES GEARED AUS EQTY F"},"translate_title":"西澳反对派旨在解除铀矿开采禁令","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IIGF.AU":0.6,"OZR.AU":0.6,"URA":1.5,"VAS.AU":0.6,"E200.AU":0.6,"SRUUF":1.5,"XAO.AU":0.67,"GIVE.AU":0.6,"IMLC.AU":0.6,"ZYAU.AU":0.6,"BBOZ.AU":0.6,"QFN.AU":0.6,"EIGA.AU":0.6,"XKO.AU":0.67,"SLF.AU":0.6,"BEAR.AU":0.6,"IISV.AU":0.6,"GEAR.AU":0.6,"VAP.AU":0.6,"OZF.AU":0.6,"IOZ.AU":0.6,"DACE.AU":0.6,"XJO.AU":0.67,"STW.AU":0.6,"QRE.AU":0.6},"content_text":"The WA Liberals and Nationals have this week said they would lift the State Labor Government’s uranium mining ban if elected to govern in 2029.Their commitment comes as industry figures show the long-term price of the nuclear fuel has doubled in the past four years.The only WA uranium mine with the potential to come into development despite the ban — as it received approval before the election of the WA Labor Government in 2017, and WA Labor said it would not revoke this approval — is Deep Yellow’s Mulga Rock project 290km east-north-east of Kalgoorlie-Boulder.However, Mulga Rock remains second in Deep Yellow’s pecking order behind the $750 million Tumas project in the southern African nation of Namibia.WA Labor was elected in 2017 on a pledge to ban uranium mining in the State and has maintained that position on achieving overwhelming re-election victories in 2021 and 2025.Mines and Petroleum Minister David Michael told the Kalgoorlie Miner on Friday the government had no plans to change its existing policy, highlighting the energy transition taking place in the State.“We know Western Australia will be a global renewable energy powerhouse into the future, and we must do everything we can to bring that industry alive,” he said.“We will be getting out of coal by 2030 as part of WA’s energy transition to a renewable energy future.”His comments come after Nationals WA leader Shane Love, also the shadow minister for mines and petroleum, this week said lifting the ban would unlock billions of dollars in investment, create regional jobs and allow West Australians to benefit from one of the world’s fastest-growing energy industries.“Western Australia has some of the largest uranium deposits in the world, yet Labor continues to lock away an industry that could create jobs, attract investment, and strengthen our economy,” Mr Love said.“The world is undergoing an energy renaissance, with countries across Europe, Asia and North America turning to alternative forms of energy, including nuclear, to improve energy security and reduce emissions.“The absurdity is that companies can spend years and millions of dollars discovering uranium deposits in WA, but are prohibited from developing them.“While other jurisdictions are moving forward, Western Australia is being left behind.“The uranium price is now around four times higher than when Labor imposed its ban in 2017, yet Roger Cook continues to ignore the changing global market and the opportunities available to West Australians.”Mr Love said WA had a long history of responsible resource development and was more than capable of regulating a uranium industry to the highest environmental and safety standards.“Uranium has been mined safely in other Australian jurisdictions for decades under strict regulatory oversight,” he said.“This is about removing an ideological ban and allowing projects to be assessed on their merits through existing environmental and regulatory processes.“The choice is simple: embrace a new industry that will diversify our economy, create regional jobs and strengthen Western Australia’s position as a global resources powerhouse, or continue Labor’s blanket ban and watch investment flow elsewhere.”Mr Love’s comments followed Opposition Leader Basil Zempilas this week also saying the ban should be lifted.“Global demand for uranium is growing, and Western Australia is being left behind because of an ideological ban,” Mr Zempilas said.“Uranium will play a critical role in the global energy transition, support the growth of AI and advanced technologies, and create significant economic opportunities for our State.“A Liberal-National Government will back jobs, back Western Australia and back responsible uranium development.”Average price figures published by Canadian uranium producer Cameco show the long-term price in May was $94 a pound, compared with $42.88/lb in January 2022.Cameco said the spot price in January this year was $94.28/lb, although this has eased to $84.18/lb by last month.However, this was still almost double the spot price of $43.08/lb in January 2022.Deep Yellow was the only company to achieve “substantial commencement” of its WA development in December 2021 after being granted a five-year permit from the State Liberals-National Government in December 2016.However, there has not been a lot of progress since then, with Deep Yellow in April last year delaying a final investment decision for Tumas because of the state of the uranium market and geopolitical environment.Deep Yellow remained upbeat in its March 2026 quarterly report, stating development activities continued at both Tumas and Mulga Rock.The company said trade-off studies to inform the revised feasibility study of Mulga Rock had continued after the successful piloting programs reported last year.Deep Yellow said recent pilot plant testing had confirmed previously forecast recoveries of all targeted metals, including critical minerals and rare earths, and lowered estimated operating costs.The company said the resource estimate would now be updated utilising these improved modifying factors.Deep Yellow in July last year stated it was aiming to complete the revised feasibility study for Mulga Rock by the third quarter of this year.The company said its plan was to achieve first product from Mulga Rock about two years after the start of production at Tumas, with this sequencing aiming to ensure Deep Yellow does not overcommit its technical and organisational resources, which would risk unnecessary adverse project outcomes.Deep Yellow announced the sudden exit of uranium industry veteran John Borshoff as chief executive last October, with a fiery annual general meeting a month later saw major shareholders threaten to oust the board over its decision.Non-executive chair Chris Salisbury told the meeting while it was “not made lightly”, the decision came to needing someone with the “runway” to get Tumas into development.Former Rio Tinto uranium mining manager Greg Field started as managing director and chief executive in February.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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