MTA-AUS 2014

CONEXPO-CON/AGG VIP SHOW GUIDE contains Floor Plans and a complete listing of companies exhibiting at the ConExpo-Con/Agg 2014 trade show in Las Vegas March 3-7, 2014. It also contains 2014 forecasts for the Aggregate, Concrete and Cement industries

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14 MINING & TECHNOLOGY AUSTRALIA 2014 | ISSUE 8 IN THESE UNCERTAIN TIMES, AUSTRALIA'S uranium industry has been batling a difcult short term market to prepare for the profound and inevitable growth ahead. The case for nuclear energy around the world and the continued development of uranium resources to fuel that energy grows by the day. The three great challenges of our age and the years ahead are maintaining the drive for global economic growth and development, continuing the alleviation of energy poverty and scarcity to facilitate that growth, and doing this in a manner which maintains the habitability of our natural environment. Uranium powered nuclear energy is absolutely critical in meeting these challenges. Uranium facilitates stable, reliable, afordable base- load electricity with near zero emissions. Its enormous energy density means very litle of it is required to generate vast amounts of electricity; leaving behind a small and manageable environmental footprint. Consider that Australia in 2012/13, exported 8,391 tonnes of uranium – around 40 standard containers per month – and that this small volume in terms of energy, was equivalent to Australia's entire production of electricity. This reality is seen in all the major energy forecasters' projections. The OECD's International Energy Agency estimates across its three scenarios that nuclear power generation will grow between 51% and 126% from 2011 to 2035. Its 450 o scenario, showing what it takes to keep the energy system on track for half a chance of limiting average global temperature to a 2 o increase, requires a more than doubling of nuclear powergen. The US Energy Information Administration has similar projections with nuclear power generation basically doubling between 2010 and 2035. Clearly, the more the world continues on its path of economic growth, centred around rapid industrialisation and urbanisation in emerging economies, while seeking to minimise climate change, air pollution and other environmental impacts, the more signifcant a role nuclear power will have to play. Australia's uranium industry is well placed to play a leading role in facilitating the expanding global nuclear industry. It is well known that Australia hosts over 30% of the world's known low cost recoverable uranium resources. However, it only currently produces around 11-12% of the world's total production. This in itself underpins a tremendous opportunity for Australia. As global nuclear power generation rises, Australia has the natural resource capacity to grow both volumes and market share. But a massive natural endowment is not enough. For industries to thrive, they need to be accepted in their communities and that acceptance is based on good performance, sound regulation and dealing with concerns of stakeholders. In Australia, the uranium industry has worked hard for its social licence. It has built a record of excellent worker and public safety, good environmental practices and excellent transportation management. At Australian uranium operations, radiation management is the top priority with respect to worker and public health and safety. All of Australia's current uranium mines closely monitor and report exposure levels. All consistently track well below the legislated limits both on average, and maximum individual measured. Australian uranium – busy preparing for the future Australia's uranium industry is well placed to play a leading role In facilitating the expanding global nuclear industry, writes Daniel Zavattiero. UPFRONT

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