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Stockhead Article

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Greenvale Energy (ASX:GRV) is one company gearing up to start drilling at its newly acquired Oasis project in Queensland, and CEO Alex Cheeseman told Stockhead that uranium mining the state might not always be in the doghouse.

“The understanding we have from engagement with government is that the current Queensland government will look to and consider overturning the uranium mining ban if and when a project of merit is put forward,” he said.

“I don’t want to anchor the company’s hopes on the whims of government, so we spread our risk by having projects in other states and territories as well.

“But Queensland is a mining state, and with the demise of coal mining they’re going to need to start looking at other commodities and a sensible approach to uranium mining I think is definitely on the cards.”

It also comes down to a marked change in sentiment globally towards nuclear energy, especially if we want to hit net zero targets.

“Australia has been mining and exporting uranium for 50-60 years. We don’t have a nuclear industry in Australia but it feeds into a global market,” Cheeseman said.

“The US, China and even Europe are doubling down massively on nuclear energy for future energy requirements to achieve net zero, and for zero carbon emissions energy supply into the future.

“And Australia has always been involved in digging things out of the ground, concentrating them and then sending them off elsewhere to feed into a global supply chain – whether it be iron ore or lithium. I think uranium is part of that.

“I think there’s a misconception that if you’re mining uranium you need to have a nuclear industry in Australia, but we don’t have battery manufacturing in Australia (and) make a lot of money selling lithium off to China, for example.”

To read the full article, follow the link below.

Stockhead - Australian uranium explorers are shaping up for a tectonic shift in sentiment