Forget Rio, uranium is BHP Billiton’s major meltdown
Date: 27-Nov-2008
The Australian Conservation Foundation will ask the BHP Billiton board to explain to shareholders at today’s AGM why the company has been left highly exposed by making itself dependent on uranium sales to countries with nuclear weapons.
“BHP’s growing involvement in the uranium industry means financial exposure for the company and radiation exposure for communities in Australia and overseas,” said ACF nuclear free campaigner David Noonan.
“The company’s Olympic Dam mine expansion plan is at odds with the views of a majority of Australians, with a recent national Newspoll survey showing 62 per cent of Australians are against the export of uranium to countries with nuclear weapons, such as China.
“BHP is making the Olympic Dam mine dependent on uranium sales to China, despite China not meeting its Non-Proliferation Treaty obligations on nuclear disarmament and the elimination of its nuclear weapons arsenal.”
ACF also criticised the company’s plans to increase the volume of radioactive freight on the central Australian rail corridor and push ahead with uranium mining in Western Australia.
“The central railway is in receivership and BHP’s plan for a massive increase in radioactive rolling stock moving right through the NT is making many people nervous – as is the company’s haste to revisit an earlier shelved uranium operation at Yeelirrie in WA.
“Communities near proposed mine sites and transport corridors face an increased and unwelcome threat from these activities.
“To a large extent the company’s corporate reputation will be measured on its involvement in this dirty, dangerous industry.”