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Home Steel News Experts see Australian uranium development pessimistic
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Experts see Australian uranium development pessimistic

17 Mar 2011 11:32 reported by Mike Lo

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The immense earthquake and tsunami posted the threat of the nuclear power for public safety in Japan was reported to give the Australian uranium miners such as BHP Billiton a hard time to continue with new uranium investments for its future exploitation plans.

With more than 30% of the world's economically exploitable uranium reserves, Australia owns a profitable resource base of uranium.

As results, Australia's federal government has made exports of the nuclear fuel a top foreign policy goal that can affect its relationship with countries in regions such as China and the Middle East, which require great demand for energy for its economic development.

Resources analyst at Sydney predicted that if the situation in Japan got worse, it would be a major disaster for Australian uranium miners.

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