Word: uranium
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...many Australians, nuclear power brings to mind glowing earth and mutant babies. State and federal laws ban nuclear development, more than 100 municipalities are self-declared "nuclear free zones," and not a kilowatt of the nation's electricity comes from uranium. But in Europe, Asia and North America, millions of people live near nuclear reactors with no more fuss than if they were grain silos. And fueling many of those reactors is Australian uranium...
...Mining and enrichment. Australia has abundant uranium-one-third of the world's known reserves-but Labor policy limits the number of mines to three. Some Labor M.P.s. are urging change. Said Shadow Revenue Minister Joel Fitzgibbon: "It makes no sense to sit on those reserves and deny ourselves valuable income." Rising prices for uranium exploration stocks suggest that the market believes restrictions will end. But uranium can't be used for power generation until it's enriched. Australia has no enrichment facility. Even some opponents of nuclear power say it should build one, since enrichment could add millions...
...Cost. The two sides differ on how to compare the costs of nuclear and other power. Nuclear plants are hugely expensive to build: an average-sized plant costs about $A2.5 billion. But they need very little fuel-uranium yields up to 1 million times as much energy as the same quantity of coal. The ansto study found that, taking waste management costs into account, nuclear power from an advanced plant "is cheaper than generating it from coal or a [clean coal] station...
Iran's resumption of uranium enrichment last week could not have come at a better time for the Bush Administration. The U.S. sees Iran's defiance--which came as European Union foreign policy chief Javier Solana landed in Tehran to offer incentives in exchange for the suspension of suspect nuclear activities--as new ammunition in its battle to persuade the European powers, Russia and China that only harsh sanctions can impede Iran's quest for the Bomb. If, as U.S. officials anticipate, Iran refuses to suspend enrichment and return to the negotiating table, Secretary of State Condoleezza Rice will demand...
...remains possible. The Iranians have repeatedly stressed a willingness to find a solution that addresses the concerns of the international community while upholding its right to nuclear energy. Tehran is reportedly still ready to accept the principle that - at least for defined period - there would be no industrial-scale uranium enrichment on its own soil; the fuel for its nuclear reactors would be produced abroad and shipped back when spent. But Iran may hold out for a deal that allows it to maintain its 164-centrifuge enrichment cascade at Natanz for research purposes, under additional supervision if necessary. That cascade...