Australia Lines Up Third Uranium Mine as Nuclear Momentum Builds

Australia Lines Up Third Uranium Mine as Nuclear Momentum Builds

The planned restart of a mothballed uranium mine in Australia — the world’s third-largest producer — is a fresh sign that developers are beginning to respond to an improving demand outlook and the support of the Biden administration for zero-emissions nuclear energy.

The Honeymoon mine, which was shuttered in 2014 due to weak prices, could be re-started in 12 months, developer Boss Energy Ltd. said in a feasibility study . The company was just waiting for a stronger price signal, according to Chief Executive Officer Duncan Craib, adding that he was confident market dynamics were moving in the right direction.

“There is significant uncovered demand in the coming decades — and post-2023, primary supply to meet that demand is severely limited,” Craib said in a phone interview. He was seeing most interest from potential buyers in the U.S., which accounted for over 20% of global uranium demand, while he was also […]

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