Sunday, 15 October, 2006

NT News

THE search for uranium is hotting up in the Northern Territory with companies scrambling to take advantage of the mineral's continuing price surge and investor appeal.

Tenements in the NT are being snapped up quickly, including some by the world's biggest uranium producer.

Canada's Cameco has joined up with Australia's Uranium Equities to explore NT tenements in the northeast of the huge Jabiluka and Ranger deposits, 250km east of Darwin.

The joint venture is the first to be signed by Cameco and an Australian junior company.

Sydney-based Monaro Mining, which has been focusing on uranium in Kyrgyzstan, has picked up a number of tenements in the NT, WA and Qld.

The company has allied itself with geologist Mohan Varkey, who is credited with the discovery of the Nabarlek uranium deposit in the NT, which was mined between 1979 and 1988.