Development of Australia's most prospective and controversial uranium deposit, Jabiluka, is unlikely to happen in the next decade despite its leaseholder improving relations with local indigenous groups.

That's the view of analysts visiting the Northern Territory operations of uranium miner Energy Resources of Australia this week.

ERA is currently hosting major investors on a tour of its mines and leases near Kakadu National Park, in a bid to promote its recent decision to spend $57 million on a 'pre-feasibility' study into turning its Ranger open cut mine into an underground operation.

But discussion of ERA's future inevitably turns to Jabiluka, which has remained untapped for years out of respect for the wishes of the local indigenous Mirrar people.

ERA has been bolstering its relations with the Mirrar people in recent times, and recently published its first ever joint press release with the group.

Merrill Lynch analyst Peter O'Connor is one of those participating in this week's site tour, which included a meeting with representatives of the Mirrar group.