sim south aust leases will be good

SIM is applying for leases in NT near DYL and in WA near PDN but they also applying for leases next to WMR/BHP in South Australia. Despite States Labor government objection to uranium mining, the temptation and pressure will soon change. It appear from the article below South Aust will laugh all the way to the bank and SIM should benefit.


Nuclear weapons 'not an issue' in China exports
June 21, 2005 - 11:47AM

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Australia could have a safeguard agreement to export uranium to China within 12 months, federal Industry and Resources Minister Ian Macfarlane said today.

Mr Macfarlane, attending the BIO 2005 conference in Philadelphia, rejected fears that China, despite the safeguard agreement, might use Australian uranium for nuclear weapons.

"They are interested purely in power generation," Mr Macfarlane said.

"We are confident of their objectives, but we are also confident of the ability to track the uranium.

"I don't think it's an issue."

Macfarlane said the safeguard agreement, which will allow Australia to monitor China's use of the uranium, is currently being negotiated and could be finalised within a year.

"It could be achieved in 12 months," he said.

Macfarlane again criticised the recently re-elected Labor-controlled Northern Territory government, particularly Chief Minister Clare Martin, who has promised no new uranium mines in the NT.

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Advertisement"Clare Martin has announced she won't expand uranium mining in the Northern Territory," Macfarlane said.

"They've got about $12 billion worth of uranium up there, but she's going to lock it up which makes no sense to me.

"It's going to be a boom for South Australia because at this stage it is the only place where uranium mining can take place. Western Australia has got it locked up and so has Queensland."

Mr Macfarlane was upbeat about the export potential for Australia's biotechnology industry. At the BIO 2005 conference, the world's largest conference of its kind, Mr Macfarlane led a delegation of 63 Australian firms, universities and government organisations.

The Australian representatives will showcase their products and technologies to the world's leading pharmaceutical companies and other industry leaders.

Potentially, deals worth hundreds of millions of dollars could be made.

"We are an extraordinarily bright biotech country," Mr Macfarlane said.

- AAP