South Australian govt gives uranium company $5 million compensation
SA to compensate Marathon for mining ban, 9 News, 13 Feb 12, Marathon Resources has accepted $5 million in compensation after its hopes of one day mining uranium at Mount Gee were dashed by a proposed ban on mining at the environmentally sensitive Arkaroola area.
The minerals explorer says it is dropping its civil law suit against the South Australian government because months of negotiation had resulted in the goodwill compensation for the ban on exploration and mining at Arkaroola in the northern Flinders Ranges.
The company had its licence to explore a deposit at Mt Gee, one of Australia’s largest undeveloped uranium deposits, renewed before the ban was announced in July 2011.
The plan, still before state parliament, would exclude the Arkaroola area from South Australia’s Mining Act, provide legislated protection for the sanctuary and have it nominated for world heritage listing….
http://news.ninemsn.com.au/national/8418443/sa-to-compensate-marathon-for-mining-ban
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