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URANIUM EXPORTS IN AUSTRALIA MAY TRIPLE BY 2040
The Nuclear Fuel Cycle Royal Commission is positive that South Australia’ s uranium exports could triple by 2040, if they could simply maintain its market share of the global uranium supply sector. The commission also predicts that it would potentially increase by a factor of three as nuclear energy had doubled. The findings of the commission indicate an increase in uranium mining and milling would add more than $ 300 million to state GSP; and despite that increase, job generation would go high as much; only
about 800 jobs on a fulltime basis are expected to be created over the next 14 years. If the growth in value of the uranium mining industry steadies at 32 % by 2029- 2030 in South Australia, it would represent significant growth in activity in regional areas, but little effect on real gross state product on an economy-wide basis. South Australian uranium production in 2014-2015 amounts to about $ 346.5 million, with associated royalties of $ 15.9 million.
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Photo by LucaraDiamond
NOBODY WANTED TO PAY $ 70 MILLION FOR THIS DIAMOND
Last year, Lucara Diamond- a Canadian mining company- was able to discover the three-billionyear old diamond at the Lucara’ s Karowe mine. The diamond was called“ Lesedi La Rona” which means“ our light”. The diamond was said to be the largest type IIa diamond discovered in 100 years. It’ s a huge 1,109-carat stone that is the size of a tennis ball. The company expected
to earn $ 70 million from it however, the bid was lower than what was expected during a Sotheby’ s auction in London last Wednesday. The highest bid it received was only $ 61 million. Reports say that trading with Lucara was 16 % down in Toronto recently.
Photo by LucaraDiamond
NOVEMBER 2016 Mining Engineering and Its Importance
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