Australia Approves Uranium Mine Expansion Plan

Australia, which is looking to sell more uranium overseas to meet growing demand for nuclear power, on Thursday approved a proposal by Heathgate Resources to expand its outback Beverley uranium mine.

The approval, announced by Australia’s environment minister Peter Garrett, will allow Heathgate to produce up to 1,500 tonnes of uranium oxide a year.
With its vast reserves, Australia could supply around 36 percent of the world’s uranium needs, though the ban on new mines in most states has reduced that to about 23 percent.

Parts of Africa and Eastern Europe are emerging as competitive suppliers of uranium oxide to the world’s nuclear reactors, numbering around 440 and growing, according to the Australian Uranium Association.

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