Antinuclear

Marathon uranium miner to sue South Australian government

Mining company Marathon Resources sues over Arkaroola ban, Courier Mail, Greg Kelton, From:AdelaideNow, November 12, 2011 MINING company Marathon Resources will sue the South Australian State Government over its plan to ban mining at Arkaroola in the Flinders Ranges.

The Government’s proposed ban, one of Mike Rann’s final acts as Premier, directly affected a Marathon mining lease which had been granted by the Government. Legal proceedings were issued in the Supreme Court yesterday by Kelly & Co on behalf of Marathon….. Marathon was carrying $15.8 million of exploration expenditure relating to its Mt Gee tenement in its December accounts and the Government’s decision would require the company to write off these expenses – destroying all but $500,000 of Marathon’s residual equity in one blow. While the State Government may not have a legal obligation to compensate Marathon for its expenditure, it is likely to offer an “egratia” payment for political purposes. http://www.couriermail.com.au/news/national/marathon-resources-sues-south-australia-government-over-arkaroola-mining-ban/story-e6freooo-1226193147653

November 12, 2011 - Posted by Christina Macpherson | legal, South Australia | South Australia