Profit-based uranium royalties a scam - Greens
Senator Scott Ludlam
The Australian Greens
The Australian Greens oppose a profit based uranium royalty scheme in he Northern Territory.
"The social and environmental impact of uranium mining continues irrespective of profits," said Australian Greens nuclear spokesperson Senator Scott Ludlam.
"Allowing companies to postpone paying any royalties to Traditional Owners until they are making a clear profit is dangerous given the huge costs of establishing a uranium mine, and the extreme volatility of the uranium market. It could mean that traditional owners are never compensated for their land and water that is permanently contaminated by uranium mining," he said.
"We have seen real problems with the profit-based royalty regime in other mineral operations in the NT. Some companies have cooked their books to show they have never made a profit, and therefore have never paid royalties."
"This whole idea came out of Howard's Uranium Industry Framework. This body is largely a cohort of mining corporations who have nearly completed a feat of regulatory capture. It is entirely inappropriate for this body to drive the policy agenda to secure profits at the expense of Traditional Owners and the environment," he concluded.
The Senate Economics Committee Inquiry into the Uranium Royalty (Northern Territory) Bill 2008 is holding hearings in Darwin Tuesday 31 March and 1 April and will table their report on 30 April.
"The social and environmental impact of uranium mining continues irrespective of profits," said Australian Greens nuclear spokesperson Senator Scott Ludlam.
"Allowing companies to postpone paying any royalties to Traditional Owners until they are making a clear profit is dangerous given the huge costs of establishing a uranium mine, and the extreme volatility of the uranium market. It could mean that traditional owners are never compensated for their land and water that is permanently contaminated by uranium mining," he said.
"We have seen real problems with the profit-based royalty regime in other mineral operations in the NT. Some companies have cooked their books to show they have never made a profit, and therefore have never paid royalties."
"This whole idea came out of Howard's Uranium Industry Framework. This body is largely a cohort of mining corporations who have nearly completed a feat of regulatory capture. It is entirely inappropriate for this body to drive the policy agenda to secure profits at the expense of Traditional Owners and the environment," he concluded.
The Senate Economics Committee Inquiry into the Uranium Royalty (Northern Territory) Bill 2008 is holding hearings in Darwin Tuesday 31 March and 1 April and will table their report on 30 April.