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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

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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

    • 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


Supportive politics

  • Long term political support in NT and SA

  • National bipartisanship since 2007

  • Newly supportive State policies

    • WA, Queensland, NSW

  • Exports to India


Australia’s uranium policy In the national interest

  • Expansion of production

  • Exports to selected countries

  • A platform for building regional relationships


How will this paradox be resolved?(1) Short term

  • Demand will exceed supply later this decade

  • Uranium spot price: US$70/pound by 2018


How will this paradox be resolved(2) Long term

By growth in the nuclear power industry

of by 25% to 100% by 2030s


Nuclear outlook: IEA


Nuclear outlook: IAEA


Nuclear power in 2035


Realising opportunity, raising competitiveness

Align domestic production and export policies

Treat uranium on merit


Fukushima: UNSCEAR findings

UNSCEAR finds no health risks

attributable to Fukushima accident


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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