Nuclear security

SA nuclear waste dump would deliver $257b

Momentum is growing for the construction of a nuclear waste facility in Australia to store and dispose of spent nuclear fuel rods and other waste from around the world in a project which would deliver $257 billion in revenue with signs of a bipartisan approach from the major federal political parties on the issue.

Kevin Scarce, a former South Australian governor who spent almost 12 months taking evidence from 128 witnesses, handed down his preliminary findings on Monday from The Nuclear Fuel Cycle Royal Commission which examined if South Australia should expand from being a uranium miner into enrichment, waste storage and power generation.

He was enthusiastic about the economic benefits of a commercial-scale nuclear waste storage facility which would bring $5 billion in revenue annually for the first 30 years, and would be "highly profitable" because of strong demand from other countries, with more than 390,000 tonnes of spent rods and nuclear waste currently in temporary storage around the world and looking for a permanent home.