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Gary Gray optimistic about the future of uranium exports



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GARY GRAY MP

SHADOW MINISTER FOR RESOURCES SHADOW MINISTER FOR NORTHERN AUSTRALIA SHADOW SPECIAL MINISTER OF STATE MEMBER FOR BRAND

MEDIA RELEASE

GARY GRAY OPTIMISTIC ABOUT THE FUTURE OF URANIUM EXPORTS

Gary Gray, Shadow Minister for Resources, was upbeat about the mid to long term future of the Uranium export sector as demand for Australia’s uranium will be led by global growth from China, Korea, India and Russia.

Mr Gray made these comments at today’s Uranium Conference in Perth.

“In the near term uranium prices are expected to remain low. In the longer term however the fundamental drivers of nuclear power, namely energy demand from growing populations, and the need to reduce greenhouse gas emissions and the desire for greater energy security remain unchanged,” said Gary Gray.

“We want to see BHP Billiton expand operations at Olympic Dam to ensure it continues to be an important component of the Australian uranium industry for the long term, as well as becoming one of the world’s top copper mines.”

Gary Gray was also happy to report that the Federal Parliament finally passed the Bill that implements Labor’s Hawke Review recommendations about the best use of the Woomera Protected Area (WPA) in the national interest. The Bill passed both houses of parliament 14 months after it was first introduced by Labor.

“The South Australian Government estimates that $35 billion dollars in iron ore, gold and uranium reserves are currently locked up in the WPA.

“This will open the door to stronger investment and growth in the South Australian resources sector,” said Gary Gray, Shadow Minister for Resources.

The international Energy Agency is forecasting a doubling of nuclear power generation out to 2035.

WEDNESDAY, 17 JULY 2014