Adelaide, Mar 31, 2006 AEST (ABN Newswire) - South Australia could see a significant expansion of uranium mining in the short term and host uranium enrichment or a nuclear power plant within 20 years, the Chief Executive Officer of Marathon Resources (ASX: MTN), Dr John Santich, predicted today.
Dr Santich told delegates at the 2006 Uranium Conference in Adelaide that he expected the Labor Party policy restricting further development of the uranium industry would change.
"I think there will be some good uranium discoveries in South Australia over the next two years and, within the next six years, I think there will be the potential for at least three new uranium mines - a couple of in-situ leach operations and at least one hard rock operation.
"Over the next 20 years, I think there is a reasonable chance that there will be an enrichment and, or, a nuclear power facility here in South Australia.
"The uranium price will continue to be driven by the expansion of China and India and the price, while it might not skyrocket, is not likely to suffer any hiccups over the medium term.
"There was interest in enrichment 20 years ago at Redcliff in South Australia and I don't see why the issue should not be revisited. It is not as if enrichment is unknown technology and it does not make any more of a contribution to the important issue of non-proliferation issue.
"If Australia wants to hold itself out as the Clever Country, it should be clever, and uranium enrichment seems to me to be a clever way of adding value to what is otherwise just as quarrying operation," he said.
Contact
Dr John Santich
CEO Marathon Resources
Mob: 0412 065 294
Peter Gill
Senior Consultant
FIELD PUBLIC RELATIONS
231 South Road
MILE END SA 5031
Tel: 08 8234 9555
Fax: 08 8234 9566
Mb: 0417 784 059
peter@fieldpr.com.au
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