❓ The Minister outlines the benefits of the Australia-India uranium agreement for WA, highlighting potential economic growth, job creation, and royalty revenue, while contrasting the government's supportive stance with the opposition's perceived inconsistency.
AnsweredQoN 630Legislative Assembly
QuestionView source ↗
URANIUM
MINING — AUSTRALIA–INDIA AGREEMENT
630. Mr
I.C. BLAYNEY to the Minister for Mines and Petroleum:
Can the minister please describe the benefits to Western
Australia of the agreement between the Australian and Indian governments
regarding uranium?
MINING — AUSTRALIA–INDIA AGREEMENT
630. Mr
I.C. BLAYNEY to the Minister for Mines and Petroleum:
Can the minister please describe the benefits to Western
Australia of the agreement between the Australian and Indian governments
regarding uranium?
AnswerView source ↗
I thank the member for Geraldton for his question, and I am
sure he will join me in congratulating Prime Minister Abbott for his leadership
in this venture and signing this historic agreement with India. It paves the
way for sales of uranium to one of the world's leading developing countries
and indeed one of the fastest growing markets in the world. This is good news
for the emerging uranium industry in Western Australia. I will give members a
bit of background on India. It has five gigawatts of generated nuclear power
and it intends to increase this to 15 gigawatts by 2020 and 30 to 50 gigawatts
by 2035. It gets the uranium from some of its own sources and some it imports
from Canada. Another interesting statistic about India is that 400 million
people in India do not have electricity. India requires the generation of more
power, and nuclear energy is one of the power sources it will utilise and
expand in the future.
The Australian uranium industry employs 4 000 people and
exports $700 million worth of uranium each year. However, at the moment we have
very little action with India. A number of mining companies have their projects
nearing approval. The most advanced are Wiluna, Kintyre and Yeelirrie. I would
like to report that in the last June quarter Toro Energy Limited's
exploration drilling program discovered its best ever uranium grade. Toro's
Wiluna project already has environmental approvals and it is well placed to
take advantage of any expansion of the export market. When it does, the good
news for Western Australia is that there will be a five per cent royalty on our
uranium. These royalties will go towards paying some expenses, such as the new
Perth Children's Hospital, the increased expenditure on education, and
more police officers. That is great news for WA and the prosperity of Western
Australia. Most governments and political parties support uranium mining. That
is good news for Australia and also Western Australia.
I would like to congratulate the federal shadow Minister for
Industry, WA Labor member Gary Gray, who recently wrote an article in The West
Australian explaining the benefits of uranium mining in Western Australia.
He also offered what I think was very appropriate advice. Mr Gray said that
regulatory consistency is vital. He said it —
� sends a clear message to investors
and the � community that the uranium industry is serious about safety,
sustainability, and social responsibility.
This government is providing that consistency. It is
unfortunate that members opposite do not provide that consistency and indeed put
at risk this valuable future industry to Western Australia.
Labor's position would mean fewer jobs and less
royalties for Western Australia. Large countries such as China and India need
our uranium. We have an economic and social responsibility to provide uranium
to these countries that are screaming out for Western Australia's
uranium.
sure he will join me in congratulating Prime Minister Abbott for his leadership
in this venture and signing this historic agreement with India. It paves the
way for sales of uranium to one of the world's leading developing countries
and indeed one of the fastest growing markets in the world. This is good news
for the emerging uranium industry in Western Australia. I will give members a
bit of background on India. It has five gigawatts of generated nuclear power
and it intends to increase this to 15 gigawatts by 2020 and 30 to 50 gigawatts
by 2035. It gets the uranium from some of its own sources and some it imports
from Canada. Another interesting statistic about India is that 400 million
people in India do not have electricity. India requires the generation of more
power, and nuclear energy is one of the power sources it will utilise and
expand in the future.
The Australian uranium industry employs 4 000 people and
exports $700 million worth of uranium each year. However, at the moment we have
very little action with India. A number of mining companies have their projects
nearing approval. The most advanced are Wiluna, Kintyre and Yeelirrie. I would
like to report that in the last June quarter Toro Energy Limited's
exploration drilling program discovered its best ever uranium grade. Toro's
Wiluna project already has environmental approvals and it is well placed to
take advantage of any expansion of the export market. When it does, the good
news for Western Australia is that there will be a five per cent royalty on our
uranium. These royalties will go towards paying some expenses, such as the new
Perth Children's Hospital, the increased expenditure on education, and
more police officers. That is great news for WA and the prosperity of Western
Australia. Most governments and political parties support uranium mining. That
is good news for Australia and also Western Australia.
I would like to congratulate the federal shadow Minister for
Industry, WA Labor member Gary Gray, who recently wrote an article in The West
Australian explaining the benefits of uranium mining in Western Australia.
He also offered what I think was very appropriate advice. Mr Gray said that
regulatory consistency is vital. He said it —
� sends a clear message to investors
and the � community that the uranium industry is serious about safety,
sustainability, and social responsibility.
This government is providing that consistency. It is
unfortunate that members opposite do not provide that consistency and indeed put
at risk this valuable future industry to Western Australia.
Labor's position would mean fewer jobs and less
royalties for Western Australia. Large countries such as China and India need
our uranium. We have an economic and social responsibility to provide uranium
to these countries that are screaming out for Western Australia's
uranium.
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