Huge uranium stockpiles have accrued around the world and those stockpiles are continuing to grow with global production continuing to exceed demand. There may not be a supply deficit in the market until "the late 2020s" according to Nick Carter from Ux Consulting. While the uranium industry appears to be in denial about the likelihood of long-term low prices, the reality is that it is unlikely that new mines will be viable or profitable for at least the next decade. If Cameco wants to pursue the Yeelirrie project, the company will need to be extremely patient.
The winning argument against the mine
A joint submissionwas provided to the Yeelirrie Public Environment Review by the Conservation Council of WA, the Australian Conservation Foundation, Friends of the Earth Australia, The Wilderness Society, the Anti-Nuclear Alliance of WA, the West Australia Nuclear Free Alliance and the Australian Nuclear Free Alliance.
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Amongst other points, they called for the project to be rejected "on the grounds that the Yeelirrie Subterranean Community, a Priority 1 Ecological Community (PEC) comprises a series of highly endemic, diverse stygofauna and troglofauna species within multiple calcrete habitats). The impacts of the proposed Yeelirrie uranium mine, predominantly the associated groundwater drawdown, pose an unacceptable risk that could see a number of subterranean species become extinct (particularly 15 species that are currently only known from the direct impact zone)."
The EPA decision was based on the impacts on subterranean fauna, and disregarded other points made in the submission.
On 3 August 2016, EPA Chairman Dr Tom Hatton said Cameco Australia's Yeelirrie Uranium Project could not meet one of the nine key environmental factors examined by the independent board.
"This was an extremely complex assessment which included an extensive public consultation period, a site visit, numerous discussions with the proponent and the careful and rigorous examination of nine key environmental factors," Dr Hatton said. "Of the nine factors assessed, one 'Subterranean Fauna' was unable to meet the EPA's environmental objectives."
Dr Hatton said the EPA had concluded the proposal would threaten the viability of some species of subterranean fauna (animals which live below ground), in particular stygofauna.
"The stygofauna habitat at Yeelirrie is particularly rich, with 73 species recorded - more than anywhere else in the northern Goldfields," Dr Hatton said.
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"Despite the proponent's well considered management strategies, based on current scientific understanding, the EPA concluded that there was too great a chance of a loss of species that are restricted to the impact area.
"The other eight factors, including potential impacts to Flora and Vegetation, Inland Waters Environmental Quality and Decommissioning and Rehabilitation, met the EPA's objectives. The EPA also concluded radiation exposure from the mine site to workers and the public would be within acceptable limits for human health."
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