During the period 1954-71 in Australia approximately 9,000 MT of U₃O₈ was produced from five separate localities. Of this, 7,000 MT was exported to the United Kingdom and United States and the balance stockpiled by the Australian Atomic Energy Commission (AAEC).

Australia's uranium ore reserves occur in eight deposits in three states and the Northern Territory. However, 83% of Australia's reserves are contained in four deposits in lower Proterozoic rocks in the East Alligator River region of the Northern Territory.

The AAEC has calculated Australia's recoverable uranium reserves by eliminating estimated losses during the mining and milling of the ores. AAEC has estimated reasonably assured resources of 289,000 MT of uranium and estimated additional resources of 44,000 MT of uranium at a recovery cost of less than US$80 per kilogram uranium.

The companies have collectively announced a larger ore reserve than the Australian Atomic Energy Commission. This difference is a result of the companies adopting different ore reserve categories.

On August 25, 1977, the federal government announced that Australia would develop its uranium resources subject to stringent environmental controls, recognition of Aboriginal Land Rights, and international safeguards.

Australian uranium production should gradually increase from 1981 onward, growing to 10,000 to 15,000 MT by 1985-86. Further increases in capacity may emerge during the second half of the 1980s when expansion plans are implemented.

Exploration for uranium has not been intensive due to delays in developing the existing deposits. It is likely that present reserves can be substantially upgraded if more exploration is carried out.