Mining

5 April 2001

More Doubt on Kakadu Mine Plan as Canadians look to sell

Environment Centre NT
Australian Conservation Foundation

The future of the controversial Jabiluka uranium mine inside Kakadu National Park faces growing uncertainty following confirmation that Canadian nuclear corporation Cameco is seeking to quit the project. In a recent report to the Canadian Stock Exchange Cameco formally announced that it's current holding (6.45%) in mine proponent Energy Resources of Australia (ERA) is "available for sale". Cameco had until recently been considered as a possible buyer of ERA and the Jabiluka deposit. It's decision to instead offer its stake for sale follows a difficult first quarter for the embattled ERA which has seen:

"The Jabiluka project is in increasing trouble. Work at the site has been stalled since September 1999 and the project is costing dollars and community goodwill everyday," said ACF nuclear campaigner Dave Sweeney. "By acting to end Jabiluka, Rio Tinto Ltd would be protecting both Kakadu and shareholder value and we are urging them to do so."

For more information on mining issues contact ECNT:
Phone: 08 8981 1984
Email: ecnt@octa4.net.au

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