One step closer to uranium mining in Queensland

Introduction

The Queensland Government is forging ahead with its plans to re-commence uranium mining in Queensland. On 13 September 2013, the Government released its action plan for the re-establishment of uranium mining. The good news for developers and investors is the Government is aiming to have all the necessary regulatory guidelines and protocols in place to begin assessing uranium mining applications from mid-July 2014.

The Government endorsed the vast majority of recommendations in the Uranium Mining Implementation Committee (UMIC) report, which was released on 18 March 2013 (a summary of which can be viewed here), and has proposed specific actions required to implement those recommendations. However the Government did not endorse the recommendation to impose a 5% royalty rate for uranium at this stage and instead said the matter required further analysis before it is finally determined in 2014-15 State Budget.