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NT uranium royalties legislation goes before Federal Parliament – 04/12/2008

NT uranium royalties legislation goes before Federal ParliamentThursday, ABC Rural News 04/12/2008The Federal Government has introduced a bill to bring uranium royalties in line with other minerals in the Northern Territory.If passed, the Uranium Royalty (Northern Territory) Bill will see mining companies paying 18 per cent of profits, instead of rates determined on a case-by-case basis.It won’t apply to the Territory’s only uranium mine, Ranger, which already has its own rules for royalities.Michael Angwin, from the Australian Uranium Association, says the legislation is important because many other uranium projects are on the cards.”I think what it’s signalling is that the Federal Government recognises that the Northern Territory has a lot of Australia’s uranium that is worth developing, and one of the pieces of the regulatory and policy machinery which needs to be put in place is a royalties regime.”

NT uranium royalties legislation goes before Federal Parliament – 04/12/2008

December 4, 2008 - Posted by Christina Macpherson | Uncategorized