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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

Chief Executive Officer

Darwin Mining Club

12 June 2013


The current paradox
The current paradox

Supportive politics coexists with negative economics


The 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
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
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
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
How will this paradox be resolved(2) Long term

By growth in the nuclear power industry

of by 25% to 100% by 2030s





Realising opportunity raising competitiveness
Realising opportunity, raising competitiveness

Align domestic production and export policies

Treat uranium on merit


Fukushima unscear findings
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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