Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The Inuit government of Labrador says it will review a 2008 moratorium on uranium mining that it brought in to protect the environment, The Winnipeg Free Press reported, with the Nunatsiavut Assembly voting last night to review the legislation imposing the moratorium on mining, production and development of uranium on Inuit lands.
The moratorium was imposed on concerns over the environmental effects of uranium mining including low-level emissions produced from tailings. If a government committee recommends that the moratorium be lifted, legislation would be put forward to remove the restriction, says The Free Press. A report is expected by December.
A Government of Canada database on uranium mining lists 8 uranium projects in Newfoundland/Labrador. Among the active projects are the Rocky Brook property 70% owned by JNR Resources (TSX-V:JNN) and 30% by Altius Minerals (TSX:ALS); Crosshair Exploration & Mining Corp’s (TSX:CXX) Central Mineral Belt project; and Paladin Energy’s (TSX:PDN) Michelin deposit.
