Australia set to cash in on uranium

The Howard Government has seized control of the Northern Territory’s rich uranium deposits in an attempt to exploit huge world demand for the booming resource.

The move came after the NT Labor Government, which is strongly opposed to new uranium mines, walked away from any responsibility for them during a 15-minute meeting in Darwin between federal and territory resource ministers yesterday.

Federal Resources Minister Ian Macfarlane said the Government had sought legal advice after NT Chief Minister Clare Martin went to the June election vowing to ban new mines.

Mr Macfarlane said the Government had no option but to act to end “chaos and confusion”, saying the territory had abdicated its part in decision making on uranium mining and describing its stand as “nonsensical”.

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The Government is keen to cash in on soaring world demand and prices for uranium, and the minister made clear it wanted NT uranium exported to China.

ClimateArk