• 2 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 2 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 2 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 2 days Schlumberger Warns Of Moderating Investment In North America
  • 2 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 3 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 3 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 3 days New Video Game Targets Oil Infrastructure
  • 3 days Shell Restarts Bonny Light Exports
  • 3 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 3 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 3 days British Utility Companies Brace For Major Reforms
  • 3 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 3 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 4 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 4 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 4 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 4 days Rosneft Signs $400M Deal With Kurdistan
  • 4 days Kinder Morgan Warns About Trans Mountain Delays
  • 4 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 4 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 4 days Russia, Saudis Team Up To Boost Fracking Tech
  • 5 days Conflicting News Spurs Doubt On Aramco IPO
  • 5 days Exxon Starts Production At New Refinery In Texas
  • 5 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 5 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 5 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 6 days China To Take 5% Of Rosneft’s Output In New Deal
  • 6 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 6 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 6 days VW Fails To Secure Critical Commodity For EVs
  • 6 days Enbridge Pipeline Expansion Finally Approved
  • 6 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 6 days OPEC Oil Deal Compliance Falls To 86%
  • 6 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 6 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 7 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 7 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 7 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 7 days Aramco Says No Plans To Shelve IPO
Alt Text

Russia’s Nuclear Sector Is Surging

With a long-standing nuclear tradition,…

Alt Text

This OPEC Strategy Could Boost Uranium Prices Next Year

Kazakhstan, the world’s largest uranium…

Alt Text

New Tech Is Transforming Japan’s Energy Sector

The tech that built bitcoin…

Uranium Sector Hit by Mining Safety Fears

Uranium Sector Hit by Mining Safety Fears

Just going through the usual heap of news that piles up over the weekends.

A tiny article from the Brisbane Times caught my attention. It has some huge implications.

The Times reports that the Electrical Trades Union of Queensland and the Northern Territory is banning its members from working in any nuclear-related facilities. Including uranium mines and nuclear power stations.

The Union is worried about the health dangers of uranium and nuclear power. In an anti-uranium video released by the group, the narrator notes, "This is dangerous stuff. It has no place in society."

Union spokesman Peter Simpson further says, "We are sending a clear message to the industry and the wider community that vested interests in the uranium and nuclear industries are trying to hoodwink us about this dangerous product and industry."

Some of the arguments raised by the group in its protest video border on alarmist. (In one segment, a radiologist gravely notes that "any exposure to radiation raises your risk of cancer." This is undoubtedly true. However, we risk exposure to radiation in many of our everyday activities. Passengers on trans-Atlantic flights can be exposed to the equivalent of hundreds of chest x-rays due to solar flares. Yet no one proposes banning travel between London and New York.) But a group of this stature taking such a heavy-handed stance against uranium cannot be ignored.

Ultimately, this could be a setback for the Aussie uranium business. Particularly if other workers follow the electricians' suit.

In the bigger picture, the Union's move illustrates the huge challenges the world faces in bringing on new uranium supplies. Right or wrong, the radioactive metal will always be viewed in a more cautious light by workers, local communities and governments.

Anti-uranium protests are inevitable, and will probably slow or stop completely some of the world's yellowcake projects. One more hurdle for an industry that's already having a hard time finding new, economic deposits in order to meet global demand.
One the one hand, this is positive for uranium companies. Fewer mines mean less supply, and therefore higher prices.

On the other hand, it means exploration and development companies will need to think hard about what projects they pursue. Not only are size, grade and infrastructure a consideration. Companies will also have to think about the surrounding communities, the attitudes of the regional populace, and the stance of host governments when it comes to uranium.

Throw all of these factors in the mix, and it's going to be extra tough to make new mines. Any deposit that fits the bill geologically and socially is going to be a major prize.

By. Dave Forest of Notela Resources




Back to homepage


Leave a comment
  • Anonymous on June 01 2010 said:
    Actually while it is the official position, known as the LNT it simply isn't true that "any exposure to radiation raises your risk of cancer." Or at least not only was their nop evidence when it was adopted as a useful standard for the bureaucracy but there has since been an awful lot of evidence for the opposite theory, known as radiation hormesis, that low level radiation is actually beneficial.
  • Grant Francis [ FRANK] Donohue on January 18 2012 said:
    Even given background radation , one can see NOT that there was " nop evidence " , but eversince the discover of radioactive elements , they need to be treated with care.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News