The Minister for Resources and Energy, the Hon Martin Ferguson AM MP, will this morning launch a report commissioned by the Australian Uranium Association highlighting the economic and environmental benefits of expanded uranium production.

Titled Outlook for the Uranium Industry – Evaluating the economic impact of the Australian uranium industry to 2030, the report shows expanded uranium mining in South Australia and the Northern Territory could increase Australia's GDP by more than $14 billion by 2030. 

Minister Ferguson said: "Energy security and climate change are set to drive a significant increase in global demand for Australia's uranium.

"With around 27 per cent of the world's uranium resources, Australia is well placed to take advantage of rising global demand for nuclear power and as this report demonstrates, Australia's uranium industry can provide a significant long-term economic benefit to Australia and also make a major contribution to the global effort to reduce greenhouse gas emissions.

"This week's Budget allocated $10.6 million over four years to fund the Uranium Industry Framework which will address impediments facing the sector's development as well as other industry initiatives.

"We are also streamlining regulation, improving occupational health and safety, and ensuring Australia's indigenous communities maximise benefits from the sector.

"Australia's total exports of uranium to 2030 could also reduce global greenhouse gas emissions by  
15 billion tonnes and this carbon saving equates to about 2.5 times Australia's annual net emissions from stationary energy.

"The Government is committed to expanding the uranium industry in line with world's best environment and safety standards, which is why we only allow the sale of Australian uranium to countries which observe the Treaty on the Non-Proliferation of Nuclear Weapons and have a bilateral safeguards agreement with Australia.

"I would also like to confirm the Government's implementation of the Uranium Industry Framework.

"The Framework Implementation Group is doing a great job and I look forward to announcing some important initiatives over the coming months."