re: Ann: U Exploration Technology Presentatio... UP UP UP -----...

re: Ann: U Exploration Technology Presentatio... UP UP UP ----- Immediate Impact on the Long & Short Uranium Spot would definitely occur, if in fact the scenario stated below is imposed

8 April 2011



Energy Resources Australia (ERA) currently produces about 10 per cent of the world?s uranium, but the Mirrar people who own the section of the Kakadu National Park that includes the company?s Ranger mine wants to stop mining there.

The mining company suspended operations in January due to the wet weather, with the mine?s tailings dam near capacity.

It has operated on a lease inside Kakadu for 30 years, and joins other companies fighting battles over land rights.

The ABC is reporting that just days prior to ERA?s annual general meeting, a scientist previously employed by the company revealed contaminated water leaking from the mine into nearby waterways is a possibility.

His comments mean the mine will most likely remain closed for the rest of the year.

During a public forum in Darwin last night Mirarr woman Yvonne Margarula, the senior traditional owner of the mine site said the Indigenous community remains opposed to mining, and pointed towards the risk of unsatisfactory water management and possible downstream environmental damage as part of the reason they are against ERA continuing at Ranger.

"We still say no - no more mining," she said.

An industrial chemist who worked for ERA and is now employed by the Mirarr people told the forum the company would not be able to safely treat the contaminated water stored at Ranger by the time the mining lease expires in 10 years.

"They have facilities to remediate water through chemical water processing, ends up with micro-filtration and osmosis, and it is top-shelf stuff, but it can only do a couple of megalitres a day - and they have got 10 gigalitres," he told the audience.

"We are terrified that this is going to ruin our country."

An announcement to confirm whether the mining suspension will continue is expected from ERA on Tuesday and Kyle thinks the mine will remain closed more than three months.


Interesting period ahead for the Spot Price, with the possibility of 5,000(tu)(11Mill Lbs)of Uranium Production supply in jeopardy



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