How is Uranium mining effecting Australian economy (in a good way)?

I was just wondering how big of an industry uranium mining is in Australia and any other important information on the effect on the economy to uranium mining|||Australia has the worlds largest known resources of uranium, with about 25% of the total. Production is about 10,000 tons per year of U3O8 ("yellowcake"), making Australia the world second largest producer after Canada.


Uranium prices fell to a low of $7 per pound in 2001, but recovered to hit $72 per pound in 2007, and is still above $60 per pound.


Australia exports all its Uranium - none is used domestically. Exports are controlled to ensure peaceful use. The principal benefit is export income and jobs. Exports earn about $1.4 billion per year and about 12,000 people are employed. Use of nuclear power with Australian uranium reduces greenhouse gas emissions by about 400 million tons per year.


Uranium mining is controversial in Australia, and has long been restricted by the government. Queensland bans uranium mining completely.


However the largest uranium mine in the world, the planned open cut expansion of the Olympic Dam mine in South Australia looks set to go ahead.


This will be a huge state of the art mine, making extensive use of automated mining equipment. Construction and operation will generate many thousands of jobs.