** Check against delivery **
I would like to take this opportunity to acknowledge the traditional custodians of this land, the Ngunnawal people.
We are here today for the of launch a significant research report from the Australian Uranium Association; a report which paints a very promising picture for the Australian industry.
Australia's reputation as a reliable uranium supplier is well-known and well-earned. Australia is a key supplier of uranium to the USA, European Union, and Japan.
Australia possesses the world's largest reserves of uranium and is the second largest producer and exporter.
And it is this Government's policy to encourage the further development of the uranium industry.
As you can see from the report being released today, there are clear economic advantages to this position.
Up to $17 billion dollars in gross domestic product could be gained by the expansion of this industry and up to 15 billion tonnes in carbon emissions could be prevented.
The Australian Government does not support the use of nuclear power here in Australia - however not all countries are as lucky as we are in terms of natural resources and alternative energy options.
Concerns relating to both energy security and climate change are set to drive significant increases in the global use of nuclear power and in turn, demand for Australian uranium.
Importantly, whilst encouraging the expansion of our uranium sector, we will apply strict conditions on the mining and export of uranium. And we will not apologise for that.
We will only allow the sale of Australian uranium to countries which observe the Treaty on the Non-Proliferation of Nuclear Weapons and which have a bilateral safeguards agreement with Australia.
This is non-negotiable.
Australian uranium will only ever be used for peaceful purposes and we have a robust safeguards system to ensure this is the case.
We will also ensure our uranium mines are subject to the highest environmental and safety standards, based on world's best practice and we will work to strengthen occupational health and safety requirements for uranium workers.
We will ensure the Australian community – particularly the indigenous community – receive their fair share of the economic and social benefits which arise from this sector's growth.
We are serious about these goals which is why we have committed $10.6 million over four years in the Budget to underpin these goals, and why we are continuing to implement the Uranium Industry Framework (UIF).
The UIF Implementation Group - chaired by Mark Chalmers and comprising representatives from industry and government - is doing a great job in addressing the impediments facing the uranium sector's development. These include:
· measures to improve occupational health and safety of workers, through a national dose register;
· measures to streamline regulation;
· measures to address skills shortages and transport bottlenecks; and
· measures to ensure indigenous communities maximise benefits from the sector.
Addressing these issues will ensure the ongoing prosperity of the industry for the benefit of all Australians.
I would now like to officially launch the AUA's report Outlook for the Uranium Industry – Evaluating the economic impact of the Australian uranium industry to 2030.
This report includes landmark research which highlights the very important contribution the uranium industry can make to underpin Australia's future economic prosperity, and to support global efforts to address climate change.
As I indicated previously, the potential economic benefits are significant, and demonstrate the important role of Australia's resources sector in underpinning Australia's future economic prosperity.
The report highlights the potential benefits from expanded uranium mining in South Australia and the Northern Territory from now until 2030 including:
· a rise of at least $14 billion in Australia's Gross Domestic Product;
· a rise in South Australia's Gross State Product of at least $21 billion; and
· a rise in the Northern Territory's Gross State Product of at least $2.4 billion.
Not only could there be these huge economic benefits for Australia, but up to 11 billion tonnes of greenhouse emissions could be avoided globally.
This carbon savings equates to about two and a half times Australia's annual net emissions from stationary energy.
These numbers are substantial and cannot reasonably be ignored.
This report shows the potential of the industry's contribution to our future prosperity.
I congratulate the AUA for undertaking this valuable research and thank you for allowing me to do the honours of launching the report today.