Dave Tollner (Solomon, Country Liberal Party) Share this | Link to this | Hansard source

My question is addressed to the Minister for Industry, Tourism and Resources. Would the minister advise the House of the progress of Australia’s uranium export industry? Is the minister aware of any barriers to its continued growth?

Ian Macfarlane (Groom, Liberal Party, Minister for Industry, Tourism and Resources) Share this | Link to this | Hansard source

I thank the member for Solomon for his question and acknowledge his very strong support of the uranium industry in Australia and also the fact that 100 per cent of uranium exports in Australia are shipped through the port of Darwin.

Martin Ferguson (Batman, Australian Labor Party, Shadow Minister for Primary Industries, Resources, Forestry and Tourism) Share this | Link to this | Hansard source

Mr Martin Ferguson interjecting

Ian Macfarlane (Groom, Liberal Party, Minister for Industry, Tourism and Resources) Share this | Link to this | Hansard source

That is the Labor Party for you, isn’t it? It is no secret that uranium is emerging as one of Australia’s promising export industries.

Martin Ferguson (Batman, Australian Labor Party, Shadow Minister for Primary Industries, Resources, Forestry and Tourism) Share this | Link to this | Hansard source

Mr Martin Ferguson interjecting

Ian Macfarlane (Groom, Liberal Party, Minister for Industry, Tourism and Resources) Share this | Link to this | Hansard source

Martin, we know what you said. It is in the report and I am going to quote it in a minute. Australia’s uranium exports have reached a record $573 million in 2005. Of course, Australia has bucketloads of uranium—some 40 per cent of the world’s known uranium reserves and the potential to take an even larger share of this export pie.

Despite all this potential, Australia’s future as a uranium exporter is by no means assured. A recent ABARE report identified 13 uranium projects in Western Australia, Queensland and South Australia that are stalled by state Labor laws and regulations, which are supported, of course, by the federal Labor Party. Without changes to these Labor policies, ABARE estimates that Australia’s share of the booming global market for uranium will fall to just 19 per cent by the year 2015. Clearly, reform is needed. As usual, when the Labor Party faces a policy challenge, it is divided. In one corner we have the member for Grayndler, who continues to cling to an outdated no new mines policy.

Martin Ferguson (Batman, Australian Labor Party, Shadow Minister for Primary Industries, Resources, Forestry and Tourism) Share this | Link to this | Hansard source

Mr Martin Ferguson interjecting

Ian Macfarlane (Groom, Liberal Party, Minister for Industry, Tourism and Resources) Share this | Link to this | Hansard source

Of course, in the other corner is the member for Batman, who yesterday, with his colleagues the member for Blaxland and the member for Lyons, backed the finding of the bipartisan report into Australia’s uranium industry. This report of the House of Representatives Standing Committee on Industry and Resources unanimously concluded:

... the current restrictions on uranium mining are illogical, inconsistent and anticompetitive.

The report goes on to say:

Restrictions have impeded investment in the industry, and have resulted in a loss of regional employment and wealth creation opportunities ... The only beneficiaries of restrictions are the three existing producers and foreign competitors.

The report goes on to say:

... state policies that prevent development of new uranium mines should be lifted and legislative restrictions on uranium mining and exploration should be repealed.

To borrow a phrase, the Labor Party has reached a fork in the road. It has to choose between continuing with an ideology that is completely outdated and irrelevant or following what we on this side of the House believe in: allowing the uranium industry to expand and create exports, jobs and opportunities for Australians.