Uranium: untapped potential

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Australia has the world's largest endowment of uranium resources in the world, with around one-third of global resources.

And at just under 10 per cent of world annual production, Australia is also the world’s third largest producer behind Kazakhstan and Canada.

Australia generated $606 million in export earnings from uranium in 2020-21 with further growth potential from highly populated energy scarce countries like China and India.

Australia’s uranium can only be used for peaceful purposes under bilateral agreements with customer countries.

Uranium for nuclear technology extends beyond energy production to the production of medicines for life saving diagnosis and treatment.

Australia’s uranium industry will continue to supply fuel for affordable, base-load, zero emissions electricity to people around the world.

The MCA Uranium Forum provides a national and international perspective on global nuclear fuel activities, which provide the overall context for Australia's uranium exploration, mining and export industry.

The vision of the Forum is for the Australian uranium industry to be globally recognised as a safe, responsible, transparent and successful supplier of fuel for clean electricity generation.

The MCA will also continue to advocate for the lifting of the nuclear energy ban in Australia.

Nuclear energy was banned less than two decades ago in Australia, a decision that has cost the nation significant global investment and scientific collaboration on new nuclear technologies.

The good news is the nuclear ban can be reversed with a single amendment to the Environment Protection and Biodiversity Conservation Act 1999

Nuclear energy is a safe, readily deployable, zero emissions power source and should be included in Australia’s energy mix.

It provides around 10 per cent of the world’s power, safely providing zero emission electricity to billions of people in more than 30 countries. 

Advanced nuclear technologies like small modular reactors (SMRs) will be ideally suited for Australia where they can work with intermittent power sources like wind and solar and provide zero emission 24/7 power in regional and remote areas.

Australia, with its educated workforce, established uranium, nuclear research and university sectors and strong non-proliferation credentials, would be a partner of choice for private venture capital-funded new nuclear power