Sovereign Risk

Announcement:

Posts on this website are general "tips" and nothing more than that and should never be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy.

Traditional owners continue ban on Koongarra uranium mining
Saturday February 28, 2009, 4:00 pm

Traditional owners in the NT’s Kakadu region have decided to continue a ban on mining at the $5 billion Koongarra uranium deposit.

The French company Areva wants to mine 14,000 tonnes of uranium at the site that is surrounded by Kakadu National Park.

The lucrative deposit sits three kilometres from Nourlangie Rock – a sacred art site and major tourist attraction.

Representatives of traditional owners, the Northern Land Council, Areva and the Territory and Federal governments met in Jabiru and Cooinda this week to discuss the future of the deposit.

Traditional owners decided mining should not go ahead at the site.

By law the matter can be revisited, but the NLC says it has been told by traditional owner Jeffrey Lee that he never wants to discuss the company’s proposal again.

The Land Council also says Mr Lee is still keen for the site to incorporated into Kakadu

Leave a Reply

Your email address will not be published. Required fields are marked *