Australia’s Nuclear Fuel Cycle Royal Commission on Monday recommended that South Australia aggressively pursue international nuclear waste disposal agreements estimated to deliver more than AUS $100 billion in state profit.
The commission released its final recommendation to South Australian Premier Jay Weatherill on a plan for the state to tap into Asia’s market for nuclear fuel disposal services. As proposed, South Australia would take about 60,000 tons of waste, storing or disposing of the material in the state’s arid, Archaean geological structure. The commission’s interim report, released in February, estimated revenue at $257 billion for the $145 billion, 120-year project.
“The immediate issue facing South Australians is whether, on balance, it considers the potential opportunities to be of sufficient benefit, and the potential risks to be manageable, so as to support the further and more serious investigation of the commercial development of such a project in this state,” the commission’s report reads. “The Commission’s firm conclusion is that this opportunity should be actively pursued, and as soon as possible.”
Weatherill established the commission in March 2015, naming Kevin Scarce as sole commissioner and directing him to explore increasing South Australia’s participation in the nuclear fuel cycle. The disposal plan has been pitched as a way to kick-start South Australia’s troubled economy. Last year the state registered the highest unemployment rate in the country, at 8.2 percent.
In a statement Monday, Weatherill said the report marks the start of a “very important conversation” about the future of South Australia, noting that the commission has found the plan to be safe, viable, and capable of providing “extraordinary economic benefits.” “The Commissioner has also found that without broad social and specific community consent, such a proposal would not be achievable,” Weatherill wrote.
