Mining for Uranium in Australia is as much about politics as anything else. Prospective buyers of Australian Uranium Exploration companies (especially those wanting to raise money) should be very aware of the 3 mines policy.
The Three Mines Policy - A Very Simple Summary
The Australian Government has a policy that only 3 uranium mines can be in production in the whole country
It’s as much to do about political power struggles as it is to do with the hot potato that is ‘uranium’
Uranium mining produces a lot of bad waste as well as consuming a tremendous amount of water which can effect the eco system of a large tracts of land
The Green lobby is obviously very involved within all of this and is generally a force within Australia politics and life
So beware of any uranium exploration company (Australian or not) that’s operating in Australia because even if they find the biggest deposits in the world, NOTHING is going to come out of the ground until there’s a political policy change.
But having said all of that, it perhaps only makes the present uranium mining companies more valuable as the supply is limited.
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