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Monday, May 14, 2012

Gold Pricing ::Uranium mining recommendations

The Department of Mining is to look at implementing recommendations from a report which highlights shortcomings in the state's potential uranium mining. The Uranium Advisory Council was set up by the Department of Mining to review the framework of uranium mining and bring it in line with the world's best practises. The council has released a report which makes a number of recommendations, including the need to be more transparent when it comes to regulation and decision making. The Department of Mining's Phil Gorey says they will implement strategies to get more information into the public arena. "We set ourselves a very high standard with achieving world's best practise," 
he said. "Effectively, that is having the best possible regulatory system for Western Australia, that's something we're going to strive for and I think it's something that WA expects." The Conservation Council's director Piers Verstegen says the report exposes serious flaws and highlights a lack of transparency when it comes to regulation and decision making. "One of the biggest failings of mining regulation in Western Australia is that it's undertaken in almost complete secrecy by the Department of Mines," he said. "When you add that to the fact that the department lack any real compliance and enforcement powers to prosecute mining operators, we've got a regulatory system that's not really working at all, let alone delivering world's best practise." There are no uranium mines currently operational in WA but there are about 190 companies with interests in mining uranium. One, Toro Energy, expects the federal and state governments to make a final decision on its Wiluna mine by the middle of this year.

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