Paladin's Australian mine lacks government support

29 September 2010

Australia’s Northern Territory Government would not support the establishment of a uranium mine at Angela Pamela, 20km south of Alice Springs, it said 27 September. Paladin Energy Ltd, which holds an exploration licence for the Angela and Pamela uranium deposits with joint-venture partner Cameco Australia, says it is “surprised” by the announcement.

Although the project is still at the exploration phase, Paladin says it has already spent “many millions of dollars,” relying on encouragement and positive support from the government. Historical work indicates a potential resource of between 26 to 28 million pounds of U3O8.

Chief minister Paul Henderson said that the close proximity of the mine to tourist centre Alice Springs “has the very real potential to adversely affect the tourism market and the Alice Springs economy.” The decision does not mean that the government is against development of uranium mines elsewhere.

Paladin says it is considering its options in advance of further discussions with the Northern Territory Government. Ultimately approval for the establishment of a uranium mine will be the responsibility of the Commonwealth Government.

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