Uranium Mining in Australia Industry Market Research Report Now Updated by IBISWorld

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The Uranium Mining industry in Australia is set to rebound after a troubled five years, with strong growth and increasing production forecast. For this reason, industry research firm IBISWorld has updated its report on the Uranium Mining industry in Australia.

IBISWorld Market Research

IBISWorld Market Research

Higher uranium output and prices are expected to underpin industry growth.

Australia has an estimated 46.0% of the world's low-cost uranium reserves and accounts for 15.0% to 20.0% of global uranium output. Over the five years through 2013-14, the Uranium Mining industry in Australia is forecast to decline at annual compound rate of 2.2% to reach $992.0 million. According to IBISWorld industry analyst Andrei Ivanov, “in 2013-14, industry revenue is forecast to grow by 8.7% on the back of increased production”.

The industry is expected to produce 8,530 tonnes of uranium oxide in 2013-14, all of which is destined for export, as there is no local market for industry output. “As such, domestic demand for the industry's output is essentially non-existent,” says Ivanov. Depending on the timing of sales, exports do not necessarily match production in any single year. In 2013-14, the industry consists of four operating establishments and four enterprises, up from three due to the start-up of the Honeymoon uranium mine in late 2011. The Uranium Mining industry is thus highly concentrated. The most significant players are BHP Billiton Limited and Energy Resources of Australia Ltd.

The nuclear catastrophe at the Fukushima nuclear reactor in Japan (following an offshore earthquake and tsunami in March 2011) undermined confidence in nuclear energy. The world's worst nuclear crisis since the meltdown of the Chernobyl reactor in 1986 prompted officials in China and India to call for reviews of their atomic energy programs. The spot price of uranium oxide, which had already retreated from highs of over US$70 per pound reached in January 2011, fell steeply in chaotic trading. Although there was a subsequent rebound, spot uranium prices continued to drift lower to about US$52 per pound by the end of October 2011. Spot prices fluctuated between US$40 and US$45 in the first half of 2013. China and India, together with other countries such as South Korea, are expected to continue their nuclear energy programs, boosting both the demand for nuclear energy and the price of uranium. Higher uranium output and prices are expected to underpin industry growth.

For more information, visit IBISWorld’s Uranium Mining in Australia industry report page.

Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau

IBISWorld industry Report Key Topics

Firms in this industry mine uranium-bearing ore and extract uranium compounds from the ground using chemical leaching.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.

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Gavin Smith
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