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Objections over ruled

Centralian Advocate

Dan Moss

07Oct08

U-explorer gets nod

FURIOUS protest, concern and interest surround the announcement of an exploration license at the Angela-Pamela uranium deposit.

Green lobbyists protested the licence over the weekend as the Cameco-Paladin joint venture and the Government began their efforts to soothe the public debate.

The Government received more than 200 objections to the exploration licence.

A statement from the Cameco-Paladin joint venture said it would take six years to bring the site to a point where it can be mined, if the necessary approvals were given.

The Government said the company must meet environmental, heritage and sacred site regulations during drilling……………

Both mining companies are suffering from a massive downturn: Paladin’s stocks have fallen from a top of about $6.50 in mid-July 2008 to about $3.50 yesterday.

Cameco’s share price has also fallen from about US$41 in mid-July to $27.

The spot price of uranium has almost halved recently to about US$50/lb.

Natalie Wasley from the Beyond Nuclear initiative said “It’s hard to say at this stage what will happen, but I think there will be a stronger community response if a mine were approved.

“You can never guarantee that there won’t be a problem.

“I think if you weigh up short-term potential economic gains against long-term environmental effects it’s not worth it.”

She also cast doubt on Cameco’s safety record.

Tags: nuclear, antinuclear, radioactive, uranium

October 10, 2008 - Posted by Christina Macpherson | politics