DESCRIPTION IN PLACE OF TRANSCRIPT
CEO, Michael Angwin explains the role of the Australian Uranium Association, its representation and the future for nuclear power and uranium.
Key points from the interview
- Economic & population growth, energy security, climate change are the drivers of demand for nuclear power and in turn uranium
- Currently there are 30 + countries with nuclear power and another 30+ considering its use
- At present there are 440 nuclear power plants, 60 being built & 150 on the drawing board and another hundred planned
- The number of nuclear power plants is predicted to grow to between 600- 700 by 2030
- Demand for nuclear power is being led by Asia with 20 power plants being built in China, India also making a big commitment. Eastern Europe in particular Russia is next in terms of demand with Western Europe & North America trying to increase use from existing reactors. The rest of world will see a gradual building and build up of nuclear power.
- Australia has 40% of known supplies twice the size of next to major producing countries Canada and Kazakhstan.
- Africa has a Namibia as well as plenty of companies exploring
- Mining in WA was lifted with the election of the Barnett Government in 2008 with approximately $1B expected to be spent on projects in WA by the middle of the decade
- The mood amongst Uranium companies at the Australian Uranium Conference, 20-21 July, Fremantle was upbeat because the fundamental drivers of demand are intact despite the accident at Fukushima.
