an update on the uranium industry: the current paradox and its resolution michael angwin
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An update on the uranium industry: The current paradox and its resolution Michael Angwin Chief Executive Officer. Darwin Mining Club 12 June 2013. The current paradox. Supportive politics coexists with negative economics . The negative economics. Resource industry challenges - PowerPoint PPT PresentationTRANSCRIPT
![Page 1: An update on the uranium industry: The current paradox and its resolution Michael Angwin](https://reader036.vdocuments.us/reader036/viewer/2022062521/56816799550346895ddcd75c/html5/thumbnails/1.jpg)
Level 1, 499 St Kilda Road, Melbourne Vic 3004 ABN. 30 005 503 828T: +61 3 8616 0440 F: +61 3 8616 0441 W: www.aua.org.au
An update on the uranium industry:The current paradox and its resolution
Michael AngwinChief Executive Officer
Darwin Mining Club12 June 2013
![Page 2: An update on the uranium industry: The current paradox and its resolution Michael Angwin](https://reader036.vdocuments.us/reader036/viewer/2022062521/56816799550346895ddcd75c/html5/thumbnails/2.jpg)
The current paradox
Supportive politics coexists with negative economics
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The negative economics
Resource industry challenges• Relatively fast increases in Australian capital costs • Commodity rivals with competitive cost structures• Delays in approvals add costs
Uranium industry challenges• Uncertainty following Fukushima • Low spot prices• Access to capital
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Supportive politics
Long term political support in NT and SA
National bipartisanship since 2007
Newly supportive State policies• WA, Queensland, NSW
Exports to India
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Australia’s uranium policy In the national interest
Expansion of production
Exports to selected countries
A platform for building regional relationships
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How will this paradox be resolved?(1) Short term
Demand will exceed supply later this decade
Uranium spot price: US$70/pound by 2018
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How will this paradox be resolved(2) Long term
By growth in the nuclear power industry of by 25% to 100% by 2030s
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Nuclear outlook: IEA
2010 2035
394 GW(e) 583 GW(e)
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Nuclear outlook: IAEA
2012 2030
Low estimate 368.8 GW(e) (actual)
456 Gw(e)
High estimate 740 Gw(e)
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Nuclear power in 2035
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Realising opportunity, raising competitiveness
Align domestic production and export policiesTreat uranium on merit
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Fukushima: UNSCEAR findings
UNSCEAR finds no health risks attributable to Fukushima accident
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Level 1, 499 St Kilda Road, Melbourne Vic 3004 ABN. 30 005 503 828T: +61 3 8616 0440 F: +61 3 8616 0441 W: www.aua.org.au
An update on the uranium industry: The current paradox and its resolution
Michael AngwinChief Executive Officer
Darwin Mining Club12 June 2013