Mineral Exploration: Australian government opens up NT to uranium mining

The Australian government has opened the Northern Territory to uranium mining. The decision is dependant upon approval of indigenous landowners and compliance with environmental standards.

The decision by the Federal government over-rides the Northern Territory's Labor government who are opposed to common sense.

Australia's accounts for approximately 20% of the global uranium market - a market that is recording record prices.

The Northern Territory, has around $12 billion worth of known uranium deposits.