Australia’s mining industry could enjoy a job boom given the
right policies in the uranium sector, according to a new report.
The study, commissioned by the Minerals Council of
Australia, found that under high-growth scenarios for local uranium production
and nuclear power, the economic benefit from the industry could increase
tenfold to $9.5 billion.
Such opportunities will only be realizable if Australia
undergoes policy reforms making it a more attractive investment destination, including
removing exploration bans in those states where the bans exist and increasing
the number of ports through which uranium can be exported.
The study comes as uranium prices have begun to pick up this
year, at around $37.75 a pound.