Paladin Energy Ltd.-Queensland to Recommence Uranium Mining
October 22 2012 - 8:09AM
Marketwired
Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) (Paladin or the Company) and
Summit Resources Limited (ASX:SMM) ("Summit") are pleased to advise
that the Queensland Government has yesterday announced that it will
convene an implementation committee to oversee the recommencement
of uranium mining in Queensland. A copy of the Joint Statement by
the Premier, The Hon. Campbell Newman, and Minister for Natural
Resources and Mines, The Hon. Andrew Cripps, is attached
(http://media3.marketwire.com/docs/pdn1022.pdf).
Paladin and Summit commend the Campbell Newman led Queensland
government for taking this very progressive decision. The ban on
uranium mining was an ideological relic from a previous time.
Governments from both sides of the political divide around
Australia have moved on.
Mr John Borshoff, the Managing Director and Chief Executive
Officer of Paladin Energy said "This initiative taken by the
Queensland State Government is a hugely positive move for the
Australian uranium industry as a whole. With a pro-uranium
position, priorities can now be made on deposit quality and
markets, and thankfully the politics of access will not be a key
determinant of going forward".
The Executive Chairman of Summit Resources, Mr Brendan O'Hara,
said "the Campbell Newman led Queensland government had shown
tremendous leadership in taking this decision, the benefits of
which will accrue to the people of Queensland in years to
come".
ACN 061 681 098
Contacts: In Australia: Paladin Energy Ltd John Borshoff
Managing Director/CEO +61 8 9381 4366 or Mobile: +61 419 912
571john.borshoff@paladinenergy.com.au In Canada: Paladin Energy Ltd
Greg Taylor Investor Relations Contact 905 337-7673 or Mobile: 416
605-5120 (Toronto)greg.taylor@paladinenergy.com.au