Uranium mining in Australia Uranium mining in Australia Radioactive ores were first extracted at Radium Hill in 1906, and Mount Painter in South Australia in the 1930s, to recover radium for medical use. Several hundred kilograms of uranium were also produced. Of the world's proven estimated uranium reserves (5,404,000 tonnes), 31% are held in Australia (1,673,000 tonnes), ahead of the second largest, Kazakhstan (12.1% or 651,800 tonnes). In terms of production, Canada is the largest supplier to export markets, followed by Kazakhstan and Australia. Uranium mined in Australia is mainly for export. Australia exported 50,235 tonnes of uranium oxide concentrate in the five years
Uranium market uranium is effectively inexhaustible, and could therefore be considered a form of renewable energy. He claims that fast breeder reactors, fueled by naturally-replenished uranium extracted from seawater, could supply energy at least as long as the sun's expected remaining lifespan of five billion years. These reactors use uranium-238, which is more common than the uranium-235 required by conventional reactors. Uranium market The uranium market, like all commodity markets, has a history of volatility, moving not only with the standard forces of supply and demand, but also to whims of geopolitics. It has also evolved particularities of its own in response