This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Uranium Mining In Australia

Uranium Mining in Australia

Australia, the third-largest uranium producer in the world, is home to nearly one-third of the world's known uranium resources. Although nuclear arms development first spurred uranium exploration and some mining in the 1940s and 1950s, it was the development of nuclear power programs in the western world that gave rise to Australia's current uranium mining industry.

Without a nuclear power program of its own, the South Pacific nation exports nearly all of the yellowcake it produces — on average, about 8,300 metric tons (MT) of U3O8 per year, which in 2011 amounted to 11 percent of world uranium supply from mines, according to the World Nuclear Association (WNA). As a member of the Nuclear Non-Proliferation Treaty (NPT), Australia only sells uranium to fellow NPT member nations. The majority of its uranium exports are received by electrical power utilities in the United States, the European Union and Japan. The East Asian markets of China, South Korea and Taiwan are expected to grow in significance as export markets due to rising growth in energy demand. Last month, Australia's government began negotiations for uranium sales with India even though the Indian government remains opposed to signing the NPT.

Australia's most significant uranium resources are in Western Australia, South Australia, Queensland and the Northern Territory. Western Australia, South Australia and the Northern Territory permit uranium exploration and mining; in late 2012, Queensland overturned a 23-year ban on uranium mining.

The WNA notes that presently, Australia's U3O8 production comes from four uranium mines: The Ranger mine in the Northern Territory, owned by Energy Resources of Australia (ASX:ERA), produced 3,710 MT of U3O8 in 2012. The Olympic Dam project in South Australia, owned by BHP Billiton (ASX:BHP,NYSE:BHP,LSE:BLT), produced 3,992.5 MT of U3O8 in 2012. The Beverley in-situ leach mine in South Australia, owned by Heathgate Resources, produced 386.7 MT of U3O8 in 2012. The Honeymoon in-situ leach mine in South Australia, owned by Uranium One (recently taken over by ARMZ), first began production in 2011 and produced just 154.6 MT U3O8 in 2012.

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs