• Secondary supplies likely to be much depleted by ~2020.
Most important uranium styles in Australia
1. Hematite breccia complex (IOCG)
2. Unconformity
3. Sandstone
≈ 716,000 t U (December 2005) ≈ 36% of world resources in this category • Olympic Dam alone contains ~26% of world total
• RAR up to US$$80 / kg U (below current spot prices)
• Volcanic = Uraninite; U-Mo minerals
• Metasomatic, magmatic • = Brannerite
Geoscience Australia
Australia’s uranium deposits 3 mines and ~85 deposits
Using the terminology of the Uranium Group, Australia has: • Reasonably Assured Resources (RAR) recoverable at costs up
to US$40 / kg U (< US$15 / lb U3O8) = “Low cost category” of Uranium Group
Geoscience Australia
Involvement in OECD/NEA - IAEA Uranium Group
• GA represents Australia at the Uranium Group (Vice Chair)
• Joint initiative of International Atomic Energy Agency and the OECD Nuclear Energy Agency • Collating and analysing information on uranium resources, production and demand from over 40 countries biennial “Red Book”
• Despite the importance of these secondary sources, there is uncertainty about quantities
• Availability or non-availability of secondary supplies can significantly influence market
Text - 28pt
The Mines Atlas contains General Information about Uranium, as well information about the Uranium Industry in Australia
Landsat image, Olympic Dam
• US, Japan, EU, South Korea, Canada • Safeguards Agreement signed with Chinese government in April 2006 • Federal government permit required for all uranium exports from Australia
2005 report in press Order forms available soon online at:
www.nea.fr
Involvement with IAEA
• My colleague Aden McKay has been providing Input to the IAEA database on world uranium deposits (= UDEPO Database)
• GA obtains information from all exploration companies and reports to government on uranium exploration, discovery and resources
• A requirement under the Atomic Energy Act
• GA produces annual estimates of national resources of uranium
• Based on company reporting to stock exchange
• All required to use the same code for reporting reserves and resources (JORC)
• GA makes non-confidential information available on line • The Group I lead has responsibilities for uranium and over 30
additional mineral commodities produced in Australia, and other issues
Geoscience Australia
Secondary supplies of uranium
• World mine production of uranium currently only =~60% of demand. • Remaining demand (~40%) is met from secondary sources of supply.
Resource Information is available as well as Internet links for more detailed industry information
Latest assessment of Australia’s uranium resources
global comparisons • Types of uranium deposits in Australia and global comparisons • Descriptions of Australia’s main uranium deposits
• More information on sandstone type deposits and ISL in later presentations
• Australia produced 11,222 t U3O8 in 2005
• 22% of global production • Second behind Canada (~29%) • Kazakhstan third (9%, increasing rapidly) • Ranger mine = largest producer in Australia
4. Calcrete/Surficial
Australia: U Grade/Tonnage/Contained U
Main U minerals in different types of deposits
• Unconformity type = Uraninite/Pitchblende UO2 > Coffinite U(SiO4)1-x(OH)4x
Exploration expenditure, discoveries and resources
Australia’s uranium production
• Australia’s uranium production has increased progressively since 1976
Geoscience Australia
Outline of presentation
• Geoscience Australia’s roles in relation to uranium • Australia’s uranium resources, production and exports and
• 5910 t U3O8 in 2005 • Olympic Dam 4335 U3O8 • Beverley 977 t U3O8
Geoscience Australia
Australia’s uranium eห้องสมุดไป่ตู้ports
• All of Australia’s mine production of uranium is exported under longterm contracts to countries with which we have nuclear safeguards agreement
• Participation in IAEA Technical Workshops
• India (Aden McKay) • China • Probably South America
Geoscience Australia
Australian Mines Atlas Online
.au
• Reason why Australia has so much uranium • Future global uranium supply and demand
Geoscience Australia
Uranium: Geoscience Australia’s (GA) roles
• GA provides technical inputs in support of uranium policy and in relation to Environment Impact Assessments for uranium projects