The Australian Greens today welcomed the scrapping of the Napperby uranium project near Alice Springs, predicting that other similar proposals around Australia would also be terminated.

"Investors are realising what anti-uranium campaigners have known for a while: the nuclear power industry burns money much more efficiently than it burns uranium."

"This is great news for the people of Central Australia who have voiced strong opposition to uranium mining in the Territory," said Senator Scott Ludlam, Greens spokesperson on nuclear issues.

"Toro Energy says a drop in uranium prices has made it unviable. Structural weaknesses in the global nuclear energy industry and the recent agreement to send more weapons grade materials into the civil fuel market will hopefully see the uranium price depressed well into the future

"The next project to go should be the highly controversial Angela Pamela uranium mine planned on the outskirts of Alice Springs," Senator Ludlam said.