NT Government’s Angela Pamela decision sends a dangerous message to minerals industry

The Northern Territory Government’s surprise announcement that it intends to oppose the development of Angela Pamela uranium deposit adds a new layer of sovereign risk for potential minerals projects in the NT.

A global survey of mining regions by the respected Fraser Institute in August found that the NT had slipped from 12th to 25th place in the list of attractive mining destinations as a result of the divisive mining super tax issue.

The NT rating was lower than Ghana, Tanzania, Namibia, Botswana and Mexico.

Ruling out a potential mine before the proper, rigorous project approvals processes – including environmental and social impact assessments - have been followed will do nothing to rebuild investment confidence in the NT.

Unilaterally ruling out the development of a minerals deposit rather than relying on sound science and proper Government review will only serve to increase the NT’s sovereign risk.

The NT Government actively encouraged the exploration of the Angela Pamela site. It is disappointing that the Chief Minister is now prepared to rule out development of site while it is still being explored.

The decision sends a dangerous signal to all potential investors in the NT minerals industry.

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