The greed of humans when presented with opportunities is not surprising. What is surprising is the extent and frequency of this parasitism. Just look in Africa, Sth America and some of the "mafia" type syndicates across the globe.
Many innocent people have been financially hurt by song lines and NT govt moratorium. All along the question was asked...Moratorium - for whose benefit?
Hopefully the Police probe (http://au.news.yahoo.com/a/-/australian-news/15181331/police-to-probe-alleged-misuse-of-funds/)will lead to charges being laid and those responsible been brought to account for their selfishness. In the meantime, Mr Chandler, Minister for Business, has been appointed (Oct 21st, 2012) Bruce Taylor as "Statutory Manager ....to take charge of the Groote Eylandt Aboriginal Trust following an extensive investigation by the Northern Territory Department of Business into allegations of mismanagement and misuse of funds."
"The alleged breaches date back to May 2011."
Hopefully sanity will prevail and moratorium will be lifted, same as in Qld with "Premier Newman announces lift on uranium mining ban" - after 30yrs.
However, it may be that NTM does not have to wait 30yrs: "Seabed mining resurfaces in moratorium review By Emma Masters, ABC October 18, 2012, 11:31 am "
"The Northern Territory Government is looking into whether it will lift a moratorium on seabed mining in coastal waters."
"Chief Minister Terry Mills says the government is now looking at the issue."
"I think there are a number of issues that impact on this, and that is federal matters as well."
It is quite apparent that encumbent NT Govt has a different approach to its predecessor.
"Miners told Territory is open for business By Michael Coggan, ABC October 17, 2012, 5:36 pm "
""I can assure you that, in this Asian century, the new Territory Government is committed to building stronger engagement with our Asian neighbours than ever before," he said. The Minister will lead a business delegation to Tanjing in China next month in an attempt to attract potential investors to the Territory." (http://au.news.yahoo.com/latest/a/-/latest/15145301/miners-told-territory-is-open-for-business/) ----------------------------------------------------
Clearly, NT Govt could not seek potential overseas investment, if projects could be mothballed by a vocal few. I have no new problem with respecting our environment and cultural heritage and firmly believe that we - ALL Australians - can benefit jointly from carefully managed mining in sensitive regions.
Good luck to all,
MS
NTM Price at posting:
4.8¢ Sentiment: LT Buy Disclosure: Held
(20min delay)