PREMIER Campbell Newman's decision to lift the ban on uranium mining will "unleash the significant potential" of the industry in Queensland.
That was the reaction of the Queensland Resources Council on Monday after the State Government announced it was establishing a three-member implementation committee to oversee the recommencement of uranium mining in the state.
Uranium mining has not occurred in Queensland since 1982.
QRC chief executive Michael Roche congratulated Mr Newman for overturning the previous government's "illogical stance" on uranium mining.
"The government's decisive action today will provide a strong boost to the regional economies of north and north-west Queensland," Mr Roche said on Monday.
"It will create jobs and economic opportunities, including for indigenous Queenslanders."
Mr Roche said several QRC member companies had well advanced plans to develop the state's significant uranium resources.
He said the known uranium resource in Queensland, using projected prices and exchange rates, was valued at $18 billion.
"That $18 billion resource value translates into $900 million potential earnings in royalties from the mining of uranium," he said.
"The experience in Western Australia suggests that a decision to overturn the ban on uranium mining in Queensland will unleash a strong upsurge in exploration for uranium, thereby boosting the known uranium resource in Queensland."
Mr Roche said the QRC was eager to assist the implementation committee, which will report to the State Government within three months.
He said the uranium industry had strong "environmental safeguards" and was equally committed to "its workers and the wider community".
"This announcement is well-timed given the Prime Minister's recent visit to India and discussions with the Indian Government about the potential supply of Australian uranium to India for peaceful purposes," he said.
"Queensland can now share in the benefits of supplying uranium to countries like India, which previously were confined to South Australia, Western Australia and the Northern Territory."
Should uranium mining be allowed again in Queensland?
This poll ended on 31 October 2012.
Yes. Queensland needs the revenue and jobs
No. The dangers are far too great
Maybe. Depends on safeguards put in place
This is not a scientific poll. The results reflect only the opinions of those who chose to participate.
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