Western Australia’s uranium mining ban will leave the State on the sidelines of a major new trade opportunity with India. This is despite Australia being well placed to benefit from increased demand for critical resources, CCIWA says.
The deal will support India – Australia’s fifth largest trading partner – with increasing its non-fossil fuel power capacity and energy security.
“Australia’s natural resources are vital for other countries’ energy security and stability, and we look forward to becoming a reliable, trusted supplier of uranium to India,” Prime Minister Albanese said.
WA’s ban on new uranium mines means the benefits will flow primarily to South Australia and the Northern Territory, where uranium mining is permitted.
WA urged to reconsider uranium ban
CCIWA Chief Executive Officer Will Golsby said the WA Government should seriously consider overturning the ban.
“As countries all over the world look to nuclear energy to decarbonise their economies, there is a real opportunity for WA to become a key supplier of uranium,” he said.
“Other states have been able to capitalise on this demand, but WA has missed out despite having some of the largest uranium deposits in the country.
“This deal with India is great news for South Australia and the Northern Territory, but sadly the benefit will bypass WA unless there’s change.”
The WA Government does not approve new uranium mining proposals and has placed a “no uranium” endorsement on mining leases granted since 2017.
Four projects that secured State Ministerial approval before the policy was introduced were permitted to proceed. However, only Deep Yellow’s Mulga Rock project – 290km from Kalgoorlie – has demonstrated “substantial commencement” within its approval timeframe.
Industry could create thousands of WA jobs
WA has the capacity to produce about 8,000 tonnes of yellowcake for export each year.
CCIWA’s 2024 report, Uranium Mining in Western Australia, found establishing a local uranium mining and export industry could create up to 9,000 jobs and generate about $1 billion in annual yellowcake exports.
Golsby said WA was well positioned to become a major global player in uranium exports.
“WA is a mining state with a reputation for safety and world’s best practice,” he said.
“We have a strong regulatory framework, existing infrastructure and all the skills needed to safely mine and export uranium.
“If other states can do it, there’s no reason why WA can’t.”
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