September 08, 2008

Western Australia to put brakes on iron ore exploration

A Western Australian Government report said that it would deny number of junior iron ore companies in the mid west approval for their projects, because they fail to meet strict environmental conditions. The report reviews almost 30 projects planned for the region.

Iron ore exploration is meant to revitalize the drought ravaged region, with mining projects estimated to be worth more than USD 75 billion. However there has been criticism of the Government's handling of environmental guidelines for the mid west.

Mr Clive Brown chairman of Geraldton Iron Ore Alliance said that the Government report was due months ago. He said that "Delay for the industry means considerable cost and continuing uncertainty so it is most unfortunate this delay has occurred."

Mr Chris Tallentire conservation council said that the government has dragged its feet on the issue and the area in question is environmentally significant. He added that "We risk losing species of plant and animal, we also risk losing geological heritage."