Northern Manganese Limited (ASX:NTM) has filed a claim with the Northern Territory government, after its decision to impose a ban on seabed mining in the Gulf of Carpentaria, according to media reports.
The government decision reportedly impacted offshore exploration licences held by BHP Billiton Limited(ASX:BHP), Northern Manganese and an Yukida Resources.
Listed junior Perth miner Northern Manganese, has filed a claim with the NT government that may lead to compensation.
Yukida says it is seeking compensation from the government and a director with the company told media it’s sending a damaging message to foreign investors.
NTM Price at posting:
3.5¢ Sentiment: None Disclosure: Held
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