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« Mega Uranium Limited Up 52% in One Day | Main | Buy and Hold or In and Out? »
Sunday
Oct212012

The Queensland Government has announced it will end a decades-long ban on uranium mining.

Well, well, we will see what this does for the uranium mining companies who own properties in Queensland.

The Queensland Government has announced it will end a decades-long ban on uranium mining.

The State Government has changed its mind on uranium mining, reversing the position the Liberal-National Party (LNP) took to the election in March.

The Government says there is renewed interest in the uranium sector following the approval of Australian uranium sales to India.

Premier Campbell Newman says a three-member committee will oversee the recommencement of uranium mining in the state, and will report back to Parliament in three months.

The Mary Kathleen Mine uranium mine, near Cloncurry in north-west Queensland, closed in 1982.

Successive Labor Governments maintained a policy of allowing uranium exploration but not mining.

The State Government says the announcement only affects uranium mining, and it has no plans to develop nuclear power or allow the disposal of nuclear waste in Queensland.

Mount Isa Mayor Tony McGrady says lifting the ban on uranium mining will spark another resources boom.

Mr McGrady says it is needed to bring Queensland in line with other uranium-rich states.

"The federal Labor government supports the mining and export of uranium and the Opposition does and every other state and territory - all except Queensland," he said.

Have a good one.

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