The Chamber of Minerals and Energy of Western Australia (CME) welcomes today the Nuclear Fuel Cycle Royal Commission’s release of its tentative findings into the opportunities and risks represented by increasing South Australia’s participation in nuclear fuel cycle activities.
“CME is encouraged by the Commission’s tentative findings which recognise South Australia can safely increase its participation in nuclear activities and generate significant economic, environmental and energy security benefits for the state”, CME Chief Executive, Mr Reg Howard-Smith said.
The Commission found a nuclear storage and disposal facility could provide revenue of more than $5 billion per year over the facility's first 30 years of operation and $2 billion per year over the following 40+ years.
“As acknowledged by the Commission, it is wise to plan now to ensure nuclear power would be available should it be required.”
“CME is hopeful today’s announcement will pave the way for further support for nuclear energy in Australia and looks forward to considering the Commission’s Tentative Findings and final report, once released in May, in further detail.”
In Western Australia there are at least 16 projects with JORC compliant uranium resources. The most advanced of these projects are Yeelirrie (Cameco), Kintyre (Cameco), Wiluna (Toro Energy), and Mulga Rocks (Vimy Resources). The development of these projects would create approximately 2,750 direct new jobs during construction and 1,385 direct new jobs during their operational phase.