Australia is home to 28 percent of the world’s uranium reserves, making it the country with the most uranium deposits globally. Following Australia, Kazakhstan and Canada also have significant uranium reserves.
Australia’s Trade Minister, Don Farrell, has expressed interest in continuing to export uranium to other countries. This comes at a time when there is a debate in Australia about the possibility of developing nuclear power plants domestically.
Despite being one of the few countries that prohibits nuclear power generation, the topic of nuclear energy has gained traction in Australia. The federal opposition has proposed building seven nuclear facilities across the country if they come into power.
During a Senate session on June 24, Shadow Foreign Minister Simon Birmingham questioned Mr. Farrell about Australia’s share of the world’s uranium resources. Mr. Farrell confirmed that Australia holds 28 percent of the world’s uranium reserves.
Mr. Birmingham also inquired if Australia should increase its uranium mining and exports, to which Mr. Farrell responded affirmatively.
Some of the uranium companies listed on the Australian Stock Exchange include BHP, Paladin Energy, Boss Energy, Deep Yellow, and Bannerman Energy.
The push for nuclear power in Australia has gained momentum, with the opposition proposing the construction of seven nuclear reactors across the country. This plan aims to replace retiring coal-fired power stations with nuclear facilities, with the first plant expected to be operational in the 2030s.
Despite the opposition, Mr. Dutton remains committed to advancing the nuclear energy agenda, emphasizing the benefits it would bring to the Australian people. He aims to work collaboratively with the states to implement the plan effectively.
