Heathgate uranium mine made a crippling loss

Fukushima fallout for uranium stings Heathgate ResourcesFinancial Review, SIMON EVANS, 26 Aug 13 Heathgate Resources, the owner of the Beverley uranium mine in northern South Australia, has suffered losses totalling a whopping $60 million over the past two years.

Heathgate has operated Beverley since 2000, but has been hit hard in its past two financial years by a plunge in global uranium prices.Beverley is one of four uranium mines in Australia, and Heathgate is also involved in the nearby Four Mile uranium project, set to become the nation’s fifth uranium mine as regulatory approvals move a step closer.

Uranium prices fell by more than 50 per cent after the meltdown at the Fukushima nuclear plant in Japan in March 2011, and have failed to recover . Heathgate Resources made a loss of $34.5 million in calendar 2012 according to its latest financial statements lodged with the Australian Securities and Investments Commission.

This ­followed a loss of $25.6 million in 2011.

Heathgate’s total revenue in ­calendar 2012 was $59 million, according to its financial statements, a ­substantial slump from the 2011 when total revenue was $84.6 million.

Heathgate president Craig Bartels declined to comment on the results and the operating performance.

Heathgate is owned by the US-based global nuclear giant General Atomics, as is one of Heathgate’s stablemates, Quasar Resources, which holds a 75 per cent stake in the Four Mile project. The other 25 per cent of Four Mile is owned by ASX-listed Alliance Resources, but the two groups are still involved in court action over past ­disagreements about how best to develop the resource…… http://www.afr.com/p/australia2-0/fukushima_fallout_for_uranium_stings_7q6Q2t7EXWB2IaLsOu5w0L

Actually sendng uranium from Australia to India – a distant dream

 the glacial pace of nuclear power plant construction and activation in India in the face of anti-nuclear campaigns;

Indian uranium deals a long way off  GEOFF HISCOCK   The Australian October 29, 2012 AUSTRALIA’S new willingness to sell uranium to India is more about snuggling up to Asia’s third largest economy than any actual nuclear
commerce. It is highly unlikely that Australian uranium will be powering Indian nuclear reactors in this decade.

India’s 20 operating reactors, spread across six sites, have an installed capacity of 4.8 gigawatts (GW) and consume about 1000 tonnes of uranium a year. With New Delhi setting revised goals of boosting nuclear output to 14.4 GW
by 2020 and between 27.5 and 63 GW by 2032, the decision by the Gillard government to allow uranium sales to India seemingly presents an opportunity for Australian producers BHP Billiton, Rio Tinto, Heathgate Resources and Uranium1.

Four Mile uranium mine – Australia’s nastiest and dirtiest

Leaving aside its nasty little internal squabbles, Australia’s fifth uranium mine Four Mile uranium project in South Australia is without doubt the most striking example of  all that is wrong about Australia’s uranium industry. Well, next door, is Beverley mine – equally bad. But they’re practically the same, in that they are both practically owned by USA’s General Atomics. Neal Blue is the chairman of Quasar Resources, which is affiliated with General Atomics, a major United States weapons and nuclear energy corporation. He is CEO of Heathgate Resources.  a 100 per cent-owned subsidiary of General Atomics (GA) which owns Beverley uranium mine. He is Chairman of the Board of Directors for General Atomics

General Atomics has a murky history  It develops nuclear technologies including arms manufacture. Especially those Predator drones which kill anybody that the Pentagon thinks is “suspicious” in Iraq and Afghanistan. Neal Blue was one of the designers of Predator. At its uranium processing plant on an Indian reservation in Oklahoma, General Atomics for years covered up radioactive water and gas leaks.

General Atomic has spent $thousands’ lobbying and ferrying of  USA politicians to Australia, , and Australian  federal and state politicians to USA . In 2000 Heathgate applauded police brutality against environmentalists and local Aboriginal people. An online video clip details this brutality. the police action (in a 2000 media release which is no longer available online). After a 10-year legal case, 10 people were awarded a total of $700,000 damages.

Continued court battles over uranium mining deals

Alliance takes Four Mile partner to court, World Nuclear News, 12 July 2010 Australia’s Alliance Resources has taken Quasar Resources and Heathgate Resources to court over their failure to disclose information related to the exploration of the Four Mile uranium project in South Australia.

Aboriginal challenge to Four Mile uranium mine

Court to review Federal approval of uranium ABC News 11 Dec 09 A review  has been sought in the Federal Court of the approval for Australia’s fourth uranium mine in South Australia’s far north-east.The action was taken by the Indigenous Justice Advocacy Network.

Uranium mining companies locked in dispute

• Miners clash on native title Sarah-Jane Tasker
• From: The Australian
• November 13, 2009

THE joint-venture partners in what is expected to be Australia’s next uranium mine are locked in a legal dispute over a native title agreement on the project.

Poor practices at Beverley Four Mile uranium mine

Uranium mine called ‘World’s worst practice’

The Flinders News 21/08/2009

Uranium mining in the far north of South Australia at the Beverley location near Arkaroola Wilderness Resort is being openly challenged by Aboriginal Traditional Owner Mrs Enice Marsh.

Arms salesman heads Australia’s uranium mine for “peaceful use”

The weapons manufacturer who converted Labor’s staunchest opponents to nuclear development has a controversial past, write Nick O’Malley and Ben Cubby…………