McGowan hopes uranium mines are not built

WA Premier Mark McGowan says he is allowing four approved uranium projects to go ahead as it will save taxpayer millions of dollars in compensation.

West Australian Premier Mark McGowan hopes four uranium projects approved by the Barnett government never get built.

The Labor government has banned any new uranium mines from being developed, but this week said it would not block the already approved projects because it would save the cash-strapped budget large compensation payouts.

Environmental groups such as the Conservation Council and WA Nuclear Free Alliance have accused Labor of breaking an election promise to ban any uranium mines.

Mr McGowan said WA government ministerial environmental approvals lasted for five years before expiring, and mining companies have to then re-apply.

Given uranium prices have never fully recovered from the high $US70-plus a pound prices in 2011, before the Fukushima nuclear disaster in Japan, there is doubt about any mines being built in WA in the near future.

"I would hope they don't go ahead," Mr McGowan told reporters on Wednesday.

"A lot of people would like us just to ban them ... but all that would do is cost the taxpayers hundreds of millions, if not billions, of dollars for projects that may not go ahead anyway.

"They could sue us for all the costs they've already put in place, plus potential loss of profits.

"It is difficult to determine and the advice we had is they can actually overturn any ban anyway and enforce approval."

The companies and projects involved are Toro Energy's Wiluna project, Vimy Resources' Mulga Rock project, and Canadian-based global giant Cameco has the Kintyre and Yeelirrie projects.

They have all welcomed "the certainty" provided by the news their approvals would be honoured, but have not commented on the possibility the five-year approvals will not being extended.

Chamber of Commerce and Injury WA and Chamber of Minerals and Energy criticised the decision to ban new uranium mines, saying the resource could provide new economic growth for the state.

There are only five uranium mines in Australia, with BHP's Olympic Dam the biggest.


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Source: AAP



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