Canada’s Nunatsiavut government has voted to lift the three-year moratorium on the mining, development and production of uranium on Labrador Inuit Lands at the Nunatsiavut Assembly sitting on Wednesday, December 14, 2011.
The proclamation is scheduled for early March 2012, to allow for the Act’s regulations to be completed.
Australia-based uranium development company Paladin holds title to significant uranium assets through its wholly-owned subsidiary Aurora Energy Ltd. (“Aurora”). Five of its six deposits fall within the Labrador Inuit Lands, the area administered by the Nunatsiavut Government.
With the lifting of the moratorium and no impediments from the Federal and Provincial Government, Paladin will be planning for a mid 2012 exploration programme. Drilling is expected to start in the third quarter of CY2012. Initially camp and support infrastructure will be reestablished to allow ground geological and geophysical work to go ahead, to define drilling targets. Drilling is planned to start with infill and extension drilling of the Michelin mineralisation.
|Recommendations by tier|
Tier 1: Near-term measures
Spent fuel pool makeup capability
Tier 3: Further regulatory study required, or depends on near-term actions
Ten-year confirmation of seismic and flooding hazards