China wants to mine our uranium. Russell Trood sees a role for Queensland.

Queensland has massive reserves of uranium yet its potential wealth is going underdeveloped.

The Queensland Bureau of Mineral and Petroleum Resources has identified 32 deposits across the state and several major mining companies, including Summit Resources, Laramide and Maple Minerals have spent and are spending millions of dollars on exploration.

Many of the reserves so far discovered are of commercial potential and several are in the vicinity of some of Queensland's most significant regional towns and cities, notably, Townsville, Mount Isa and Georgetown.

The Valhalla deposit in northwest Queensland is one of the largest uranium deposits in Australia.

Under existing Queensland policy, these resources are destined never to be developed.

The Beattie Government has consistently refused to issue any uranium mining permits, arguing that their development "would undermine the coal industry, which is the subject of billions of dollars in investment and supports jobs, businesses and communities in rural Queensland".

This, to say the least, is a bizarre policy position on the part of the Premier.

Certainly, coalmining makes a significant contribution to Queensland's economy.

It is a contribution that will continue to grow.

Source: The Courier-Mail