Exploration licences for two major uranium deposits in Central Australia have been approved, 25 years after they were discovered.

The uranium was found south of Alice Springs in the 1970s, at the Pamela and Angela sites, but development was abandoned due to low uranium prices.

Northern Territory Mines and Energy Minister, Chris Natt, says although there was tough competition for the licences, there is no guarantee that a mine will eventuate any time soon.

"It's all about exploration", he says.

"If they find that the deposit or the prospect is viable, they have to go ahead and apply for a mineral lease and and then they start the mining process.

"That could take anything up to four to five years".