Publication Laka-library:
Uranium floor prices. Background Paper (1989)
| Author | FOE Australia |
| Date | November 1989 |
| Classification | 6.01.2.20/09 (URANIUM - MINING / PRODUCTION / STOCKS / PRICES) |
| Front | 
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From the publication:
INTRODUCTION On 4th September '89, the Minister for Primary Industries and Energy, Mr John Kerin, announced that the historically 'frozen' Australian government floor-price for uranium exports of US $31/1b had been dropped to US $26/1b for re-negotiated contracts between Energy Resources of Australia (ERA) the Kansai Electric Power Company of Japan, and Swedish utility Oskarshamnverkets Kraftgrupp Aktiebolag (OKG). What would normally have been regarded as a somewhat obscure technical readjustment, saw a storm of controversy, and it became clear that the antinuclear movement, which opposed the move, saw it as more than a technical readjustment, but rather as a tacit admission that the bonanza promised by the pro-uranium lobby has spectacularly failed to materialise. This decision comes at a time when the ALP is engaged in an internal review of its uranium policy, and the antinuclear movement has argued forcefully that the revision of the floor-price constitutes a pre-emption of the deliberations of the ALP's uranium policy review committee. The first warning that something was about to happen came with an article in the Australian of Saturday 29th July '89, by Glen Milne, according to which: "The Federal Government is considering cutting the price of uranium in a move mining companies say could substantially increase Australia's world market share of yellowcake." [Aust, Sat, July 29 '89]
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