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An update on the uranium industry: The current paradox and its resolution Michael Angwin

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

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An update on the uranium industry: The current paradox and its resolution Michael Angwin

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  1. An update on the uranium industry: The current paradox and its resolution Michael Angwin Chief Executive Officer Darwin Mining Club 12 June 2013

  2. The current paradox Supportive politics coexists with negative economics

  3. 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

  4. Supportive politics • Long term political support in NT and SA • National bipartisanship since 2007 • Newly supportive State policies • WA, Queensland, NSW • Exports to India

  5. Australia’s uranium policy In the national interest • Expansion of production • Exports to selected countries • A platform for building regional relationships

  6. How will this paradox be resolved?(1) Short term • Demand will exceed supply later this decade • Uranium spot price: US$70/pound by 2018

  7. How will this paradox be resolved(2) Long term By growth in the nuclear power industry of by 25% to 100% by 2030s

  8. Nuclear outlook: IEA

  9. Nuclear outlook: IAEA

  10. Nuclear power in 2035

  11. Realising opportunity, raising competitiveness Align domestic production and export policies Treat uranium on merit

  12. Fukushima: UNSCEAR findings UNSCEAR finds no health risks attributable to Fukushima accident

  13. An update on the uranium industry: The current paradox and its resolution Michael Angwin Chief Executive Officer Darwin Mining Club 12 June 2013

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