...could be BIG BIG TROUBLE FOR SMM's share price.
http://www.skynews.com.au/story.asp?id=166139
Labor's uranium policy
The Labor party's abolition of its no new uranium mines policy looks set to go ahead, during this weekends national conference.
The party's left faction, led by Anthony Albanese, has been fighting the change, but it's reportedly conceded that it doesn't have the numbers to block the move.
The left estimated yesterday it would only muster votes from 180 of the 397 delegates.
A win on the issue will showcase the strength of the Opposition Leader Kevin Rudd's leadership.
The premiers of Queensland and Western Australia have said they won't allow uranium mining in their states even if the policy is abolished.
Most of Mr Rudd's front bench are supporting abolishing the policy as is South Australian Premier Mike Rann.
SMM Price at posting:
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