EMBARGO J NOT TO BE BROADCAST OR PUBLISHED BEFORE 1200 HOURS  MONDAY, 24th JULY, 1972

PRESS STATEMENT BY MINISTER FOR NATIONAL DEVELOPMENT

Firms like Magellan, Peko-Wallsend at Tennant Creek and,

with EZ, at Ranger; Noranda and Queensland Mines were making a

major contribution in Central and Northern Australia towards

the development of Australia's mineral industry.

It was a contribution fully recognised and appreciated

by the Federal Government.

This was stated in Alice Springs today by the Minister

for National Development (Sir Reginald Swartz) before he

inspected Magellan Petroleum (Australia) Ltdfs No. 2 natural gas

well at Palm Valley.

Sir Reginald said the firms, and their partners, were

helping add a new dimension to Australia's reserves of two most

important fuels - gas and uranium.

-  The Commonwealth Government was conscious, he said,

that the best interests of Australia must be paramount in

establishing policies relating to the export of gas and

uranium. .

In this respect, export of natural gas had been made

subject to Commonwealth control in January, 1970.

He had said at that time it was not the Commonwealth's

intention to allow any export but that the policy would be

reviewed if proven reserves indicated anticipations of Australia's

requirements in the short and long term could be met.

This policy still existed, said Sir Reginald, and would be

applied to future decisions when the field off north-west Australia,

northern South Australia, Central Australia and, to a lesser

extent, Queensland, were finally proven.

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Sir Reginald said the Federal Government had subjected

uranium to export controls on scores both of price and international

safeguards which covered the uses to which the mineral would be

put by any purchaser.

As an example, Australia and Japan had this year signed

an agreement for co-operation in the peaceful uses of atomic

energy. .

Sir Reginald said that the Federal Government had also

been very active, through the Department of National Development,

in studying the feasibility of building a uranium enrichment

plant in Australia.

If this did come about, he visualised it would most

likely be developed by an international consortium.

Sir Reginald is accompanied by the Secretary of the

Department of National Development (Mr Lloyd Bott).

