Media Release
18 November 2008
Response to Lifting of WA Uranium Mining Ban
Energy and Minerals Australia Limited (ASX:EMA), owner of the Mulga Rock uranium deposits in Western Australia, today welcomed the lifting of the State?s uranium mining ban.
In a statement yesterday, Premier Colin Barnett announced that the lifting of the ban on uranium mining in Western Australia would provide WA with long-term royalties, create additional jobs and allow the State to play a significant role in the fight against climate change.
EMA Managing Director Chris Davis said the timing of the announcement is ideal for the Company, with the imminent release of a JORC compliant resource statement for its flagship Mulga Rock project.
?We are on track to announce an initial uranium resource for the Mulga Rock Deposit to JORC Code standard, before year end,? Mr Davis said.
Situated in the Eastern Goldfields, the Mulga Rock Deposits have confirmed high grade uranium, and form the largest Australian uranium project not controlled by either BHP Billiton or Rio Tinto.
?We welcome the enlightened policy by the WA Government that will allow us to expedite the development of this significant uranium resource,? Mr Davis said.
?Mulga Rock is ideally positioned in close proximity to established transport and utilities infrastructure. This decision allows us to fast-track the development of a uranium mine.
?We support the Government?s responsible approach to permitting uranium mining in WA, and we endorse the strong safety and security provisions that have been laid down.
?We look forward to working with both the State and Federal Governments on the permitting and development of the Mulga Rock Deposits.?
For further information: Media Inquiries:
Chris Davis Warrick Hazeldine
Managing Director Purple Communication
Tel: 08) 9389 2700 Tel: 08 9485 1254
Mobile: 0417 902 646 Mobile: 0417 944 616
About Energy and Minerals Australia
Energy and Minerals Australia Limited (ASX: EMA) is a Western Australian based resource development company. In April 2007 EMA acquired 100% of Narnoo Mining Pty Ltd which holds the Narnoo Project containing the Mulga Rock Deposits. In August of the same year EMA also acquired all the shares in Camuco Pty Ltd which holds the Minigwal and Gunbarrel projects. The tenements cover some 3,397 km2 and are located in Western Australia, northeast of Kalgoorlie.
EMA?s primary focus is the development of the Mulga Rock Deposits, 250 km north-east of Kalgoorlie in Western Australia. Mulga Rock is home to world class uranium deposits, and holds great promise for a diverse range of base metals.
The Mulga Rock Deposits were discovered in the early 1980s by PNC, which undertook the historic 1,600 hole drilling programme. The project offers the advantage of established access to infrastructure such as rail and airstrip, over 1,000 km of roads and cleared grid lines, along with a large water resource.
The EMA package also includes the nearby project areas ? Gunbarrel and Minigwal ? which combined cover more than 2,000 km2 that are prospective for uranium.
A full copy of the Premier?s statement follows:
Mon 17 November, 2008
Liberal-National Government lifts uranium mining ban
Portfolio: Premier
The Liberal-National Government has formally lifted the ban on uranium mining in Western Australia.
Premier Colin Barnett said following cabinet approval today, mining leases would be granted for all minerals including uranium, unlocking tens of millions of dollars in royalties revenue, employment opportunities and allowing the state to play a greater role in the fight against climate change.
Since the Gallop Labor Government imposed its administrative ban on uranium mining in June 2002, 1,475 mining leases had been granted but uranium had been excluded.
?The ban was nonsensical,? Mr Barnett said.
?WA prides itself as a world leader in mining, yet an outmoded and philosophical objection to uranium mining was put in place, denying the State a significant economic opportunity..
?The sale of WA uranium to countries under the Nuclear Non-Proliferation Treaty for power generation will also allow WA to play a greater role in combating climate change.
?Nuclear energy is the only large-scale and commercially viable option for producing electricity without at the same time producing massive amounts of greenhouse gases.
?WA does not have a need for nuclear power, but many developing countries do.
?If a serious effort is to be made to reduce greenhouse gas emissions and the heavy reliance on fossil fuels, we must allow the development of nuclear technologies.?
Major uranium projects will almost certainly be subject to State Agreements Acts, meaning they will be dealt with by the Premier as the Minister for State Development.
The mining of uranium will be subject to strict safety and security provisions including:
? meeting all the necessary international safeguards in relation to the safe and peaceful use of uranium resources
? that environmental approvals are obtained in relation to the mining of uranium and the transport of uranium oxide and
? ensuring a safe workplace for all employees involved in the mining and the transport of uranium oxide.
The Premier said these provisions were fair, balanced and in accord with international standards.
?WA is a State more than any other in the federation that has been built on our resources sector,? he said.
?The reality is that major new resource developments in our State have been driven by vision, planning and hard work of the Brand and successive Court Liberal Governments.
?Today, the Liberal-National Government continues that vision.?
Mr Barnett was keen to address the scare tactics used by Labor during the election campaign which stated that allowing uranium mining would commit WA to receiving nuclear waste.
?At the time of the last Liberal government in 1999, the Nuclear Waste Storage (Prohibition) Act was passed through parliament which actually banned nuclear waste being dumped in WA," he said.
The legislation states:
?The Bill prohibits the construction of a nuclear waste storage facility. Nuclear waste is defined as unwanted radioactive material derived from the operations of a nuclear reactor, nuclear weapons facility, nuclear reprocessing plant or isotope enrichment plant except for nuclear waste generated in Australia or material that has been used under licence for scientific, industrial or medical purposes in accordance with the provisions of the Radiation Safety Act 1975.?
Australia has 28 per cent of the world?s known uranium reserves (the largest of any nation) and produces 22 per cent of world uranium - second only to Canada (29 per cent).
Uranium deposits in WA can be found from as far afield as the Kimberley region in the North-West to the Goldfields east of Kalgoorlie.
?There are about 25 known uranium deposits, with Yeelirrie and Kintyre being the best known,? the Premier said.
?These deposits may yield anywhere between 4,100 tonnes and 52,000 tonnes. However, we do not yet understand the true extent of these deposits.?
Premier's office: 9222 9475
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