PERTH (miningweekly.com) – The Minerals Council of Australia (MCA) has welcomed US President Donald Trump’s decision not to impose quotas on uranium imports, following an investigation by the US Department of Commerce into foreign imports of uranium.
Trump rejected findings by the Commerce Secretary that foreign uranium posed a threat to US national security, saying that although the Secretary’s finding’s raised significant concerns around the impact of uranium imports on national security, with respect to domestic mining, a fuller analysis of national security considerations with respect to the entire nuclear fuel supply chain was necessary.
MCA CEO Tania Constable on Monday said that Trump’s response to the investigation represented a balanced approach, which recognised the importance of reliable energy suppliers like Australia.
“The outcome removes uncertainty affecting the global uranium market and clears the way for buyers and sellers to discuss long-term supply and demand arrangements.
“Zero emission nuclear power provides almost 18% of US electricity demand and around 60% of US low emissions electricity generation, so a successful US nuclear industry will support global climate goals,” Constable said.
She noted that while nuclear developments are thriving in countries like Russia and China, nuclear power faces challenges in the US due to low cost gas and government-supported renewable energy.
“A strong, competitive, innovative and dynamic US nuclear energy industry will support progress on zero emissions nuclear energy across the world, including advancing nuclear energy prospects in Australia based on leading-edge technology such as small modular reactors.”
She noted that the US administration’s establishment of a working group "to develop recommendations for reviving and expanding domestic nuclear fuel production" will provide the needed focus to revitalise fuel cycle industries in the US.