ARU 3.85% 13.5¢ arafura rare earths ltd

smart move

  1. 7,089 Posts.
    lightbulb Created with Sketch. 74
    Laser, you should appreciate this...

    Stephens knows better than to bite the hand....softly softly, get all onside..
    Not a time to shoot mouth off...
    **************
    http://www.abc.net.au/news/newsitems/200508/s1430662.htm

    Last Update: Friday, August 5, 2005. 6:35am (AEST)
    NT uranium mine move 'reshaping federalism'

    A constitutional expert says the Federal Government's decision to take over the awarding of uranium mining licences in the Northern Territory signifies a remodelling of the country's federal system of government.

    The mining industry has hailed the move as offering certainty that will lead to a "prolonged uranium boom"

    Dr John Williams from the Australian National University (ANU) says it is a bold move by the Commonwealth.

    "Federalism in one sense is being reshaped as we speak and in many ways the states are becoming service deliveries, and so is the case for the Territory Government," he said.

    "So the Commonwealth is clearly being quite bold and emboldened.

    "I think by the fact that it now controls the Senate that any of these changes that it wants to make it will be able to put through at its will."

    Federal Resources Minister Ian Macfarlane says he hopes the Northern Territory Government will reconsider its opposition to uranium mining in the future.

    Mr Macfarlane yesterday announced the Commonwealth will take responsibility for approving all new uranium mines in the Territory.

    He hopes the Territory Government will eventually opt to play a role in assessing new uranium mines.

    "If at any time the Northern Territory Government wants to be involved in that process I would more than welcome them," he said.
    'Political stunt'

    NT Chief Minister Clare Martin does not appear to be taking his offer seriously.

    "There is no process for us to be involved with - since self-government we have not had control and the Federal Government has never talked any different to us," he said.

    Ms Martin says the Minister's offer is just a political stunt.

    "It is the Federal Government's control over uranium mines and I think I've said that very clearly and whatever Ian Macfarlane says, that is a fact of life - we are a territory, we do not have that control," she said.
    Moves hailed

    Meanwhile, the mining industry has hailed the move as a step forward by the Federal Government.

    The industry argues it provides greater certainty because the Northern Territory Government's position on new uranium mines was not clear.

    Batavia Mining is exploring about 5,000 square kilometres of land for uranium, mainly in central Australia.

    Director Neil Biddle says there is likely to be more exploration investment in the Territory.

    "I think we're just starting to see the beginning of a prolonged uranium boom," he said.

    "This certainly will add value to exploration acreage in the Northern Territory - I have no doubt about it."

    Mr Biddle says the increase in interest will come from around the world.

    It is a view shared by Compass company director Malcolm Humphreys, who is exploring for uranium near Batchelor.

    "It seems like it would be a positive for exploration companies," he said.

    Mr Humphreys says there is now greater certainty for investors.

    "There has been an element of confusion over policy which has been a negative," he said.

    Mr Humphreys says Compass could be mining for uranium in about five years.
    Long-term concerns

    However, Alistair Stephens from Arafura Resources says it is difficult to tell what the long-term implications will be.

    Mr Stephens says it is unclear what would happen if there was a change in Federal Government.

    "The whole issue is clouded by policy and without a clear change of the Labor Government's policy at this stage, you'd have to have to consider the implications long-term if Labor wishes to maintain that policy," he said.

    "What the implications are the Federal Government granting those licenses, if there happened to be a change of government."

    The Northern Territory Minerals Council has expressed confidence the federal Labor Party will change its policy against any new uranium mines.

    Mining council spokeswoman Kezia Purick says while it is a valid concern, there are signs of change within Labor.

    "Over the last three to six months there has been a bit of a sea change within the Labor Party that we have observed in so much as members of that Party, politicians and others, have started to say that perhaps the Party needs to look at that policy and to revisit the issue of uranium exploration and mining and also nuclear energy," she said.
 
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