Queensland Holds Positive Uranium Outlook, Promotes Development
PERTH, AUSTRALIA--July 30, 2014--Researched by Industrial Info Resources Australia (Perth, Australia)--Earlier this month, the Queensland state government lifted a 32-year ban on uranium mining, enabling opportunities that could bring jobs and prosperity not only to the state, but to the country. In lifting the ban, the Queensland government released a comprehensive action plan that will aim to recommence uranium mining throughout the state. But one part of the announcement came as a shock to many: The low price of uranium, as a result of oversupply in the market, is believed to have caused existing Australian uranium mines to lose money, particularly the newly operational Four Mile site in South Australia.
Within this article: Australia's ranking as a global uranium producer, and information on the Ranger Mine and China's uranium consumption.
