The New South Wales Government has introduced legislation that will give mining companies the green light to start uranium exploration overturning 28 year ban.

While uranium mining will remain off limits for now, NSW Minister for Energy and Resources Chris Hartcher flagged that the policy could change in the future. Should this occur, NSW will join Western Australia and South Australia as Australian states that allow uranium mining.

Uranium explorers are expected to jump in feet first with Australian Uranium Association chief executive officer Mr Michael Angwin saying that a major find would likely result in the State Government giving its nod for mining. However, he cautioned that major policy changes should not be rushed and that regulatory and other arrangements had to be put into place.

Mr John Robertson leader of State Opposition blasted the move saying that Premier Mr Barry O'Farrell had just months ago ruled out uranium exploration and mining.

Mr Robertson said that “The people of NSW didn't vote for Barry O'Farrell so that he would dig up uranium in their backyards. The Premier should reverse this decision immediately and say no to uranium mining and exploration in NSW.”

(Sourced from www.proactiveinvestors.com.au)