Economic Calendar

Monday, November 3, 2008

Australia Offers Support for Uranium Mines in West, Age Says

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By Angela Macdonald-Smith

Nov. 3 (Bloomberg) -- Australia's Resources Minister Martin Ferguson has held talks with Western Australian Premier Colin Barnett and Mines Minister Norman Moore to offer federal endorsement for new uranium mines in the state, the Age reported.

The talks, which were confirmed by Ferguson, signal the uranium industry will expand relatively quickly in Western Australia should resources companies want to develop projects beyond the exploration stage, the newspaper said. The approvals process for new mines will be a challenge for Environment Minister Peter Garrett, a former prominent anti-uranium campaigner, it said.

Western Australia's former Premier Alan Carpenter banned mining of the radioactive metal in the state.

Ferguson, who is due to hold meetings in India this week, won't canvass any changes to government policy banning uranium sales to the Asian nation because it isn't a party to the nuclear non-proliferation treaty, the Age reported.

To contact the reporter on this story: Angela Macdonald-Smith in Sydney at amacdonaldsm@bloomberg.net




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