Uranium exploration spending continues at high level

Uranium companies in Western Australia are continuing to spend record high amounts on exploration as projects progress towards development as new mines, latest official statistics show.

Australian Bureau of Statistics figures show that uranium companies spent $25.9 million on exploration in WA during the first quarter of the 2011 / 2012 financial year.

This is on track to match the record $100.7 million the WA companies spent during 2010 / 2011.

Exploration spending was also strong in the Northern Territory ($12.1m) and South Australia ($11.8m), while Queensland companies spent $4.2 million on uranium exploration in the first three months of 2011 / 2012, even though uranium mining is prohibited in that State.

Across Australia, uranium companies spent $54 million on exploration in the first quarter. This is in line with spending at the same time last year.

 

Uranium Exploration: Australia 2005/06 to 2011/12 *

$A millions

 

(Year)

Queensland

Western Australia

Northern Territory

South Australia

AUSTRALIA

05/06

4.6

2.2

19.1

30.3

56.1

06/07

9.0 (est)

11.2 (est)

30.1

63.8

114.1

07/08

38.1

26.8 (est)

48.7

118

231.5

08/09

29.5(est)

28.6(est)

54.5

72.6

185.3

09/10

22.4 (est.)

55.4

38.6

52.7

169.1

10/11

17.6 (est)

100.7

41.9

53.7

213.9

11/12 (1st qtr)

4.2 (est)

25.9

12.1

11.8

54.0

 

*Source: ABS, series 8412.0.

(Exploration for uranium is banned in Victoria and New South Wales and is negligible in Tasmania)