{"id":185627,"date":"2025-10-02T18:17:08","date_gmt":"2025-10-02T18:17:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/185627\/"},"modified":"2025-10-02T18:17:08","modified_gmt":"2025-10-02T18:17:08","slug":"western-australia-reviews-uranium-mining-ban-as-nuclear-energy-investment-grows","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/185627\/","title":{"rendered":"Western Australia Reviews Uranium Mining Ban As Nuclear Energy Investment Grows"},"content":{"rendered":"

Australia\u2019s uranium sector<\/a> remains shaped by state-based rules, with Western Australia maintaining a ban on new uranium mining licenses since 2017.<\/p>\n

While projects approved before the ban were allowed to proceed, no new developments have been permitted, however things could be changing. <\/p>\n

Premier Roger Cook recently signaled that the policy may be under review as part of broader strategic development considerations, ahead of his energy-focused trade mission to China and Japan. China, WA\u2019s largest trading partner, accounts for more than half of the state\u2019s exports.<\/p>\n

In an interview with 9 News Australia<\/a>, Cook emphasised that there are currently three uranium mines in WA, \u201call of which remain permitted\u201d.<\/p>\n

\u201cWe continue to work with the industry around what their expectations and what the future potential for these things are,\u201d he said, adding that WA has always positioned itself as a reliable place for people to undertake business.<\/p>\n

\u201cWe are conscious that there are companies in WA who have mining leases for uranium mines \u2026 We\u2019re not going to turn around and tell people that they can\u2019t mine when they have a legitimate, legal permit to do so.\u201d<\/p>\n

While no concrete decisions have been made on lifting the ban, Cook\u2019s softer insights on the matter are seen as significant signals as to the state\u2019s evolving stance.<\/p>\n

Jonathan Fisher, CEO of Cauldron Energy (ASX:CXU)<\/a>, said he sees the review as a \u201cstrategic political positioning ahead of the March 2029 state election.\u201d<\/p>\n

Cauldron recently signed a memorandum of understanding<\/a> with Uzbekistan national uranium company Navoiyuran, which it regards as something that “helps justify to the WA Government that a change in policy is warranted,” and added that it intends to discuss this arrangement with relevant WA government representatives in due course.<\/p>\n

Fisher also noted the spike in uranium prices since the ban, as they went from approximately US$20 per pound in 2017 to around US$80 in 2025.<\/p>\n

During his interview Cook noted that current uranium prices are \u201dstill very low.\u201d<\/p>\n

Nuclear fleet funding focus <\/p>\n

In mid-September, the Australian federal government unveiled<\/a> a AU$12 billion, decade-long investment to establish a submarine and naval shipbuilding hub in Western Australia. <\/p>\n

The funding will help service US submarines and accelerate the rollout of AUKUS<\/a>, the trilateral security pact between Australia, the UK and the US. <\/p>\n

Central to the alliance is Australia\u2019s acquisition of nuclear-powered submarines, a move aimed at strengthening security and maintaining a free and open Indo-Pacific.<\/p>\n

When asked whether doors are open to lifting WA\u2019s ban on uranium considering its assist in global decarbonisation, Cook said that there needs to be a \u201csignificant shift\u201d in the global market.<\/p>\n

\u201cThat\u2019s why we\u2019re continuing to watch the current players who have permits or leases to mine uranium. We\u2019ll continue to watch this space.\u201d<\/p>\n

Don\u2019t forget to follow us @INN_Australia<\/a> for real-time updates!<\/p>\n

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.<\/p>\n