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« UEX Corporation: Up 31.90% in one day! | Main | The Ranger Mine makes a Come Back »

Aurora Energy Resources Inc. Face Monumental Task

Aurora logo 18oct07

Aurora Energy Resources Incorporated is currently preparing a mine environmental assessment to be completed by the end of the year to put before Labrador's Inuit assembly. However a motion, which is scheduled to go to a second reading in the Nunatsiavut assembly in November, directs the self-government not to consent to a mine or mill on Inuit-owned lands, according to CBC News.

William Barbour, the minister of land and resources with the Nunatsiavut had the following to say:

“A committee will in the meantime study the benefits and drawbacks of uranium mining. He said Inuit leaders are feeling a bit overwhelmed by Aurora Energy's proposal.
"Maybe there is a safe method out there today, but these exploration companies who wish to go mining have to convince us that it can be done,"

John Roberts vice-president of Aurora said the company hopes to convince Inuit leaders that a mine can be developed safely and was pleased that the Nunatsiavut was initiating a process to debate the issue of uranium mining.

It is the old chestnut of jobs versus the environment again so we will monitor the situation and report back as and when significant developments occur.

Aurora Energy Resources Incorporated trades on the TSE under the symbol AXU and closed yesterday at $15.84.

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Reader Comments (1)

I've heard many times how its better to invest in Canada, Australia, and the US because the political risk is lower. Apparently there is political risk everywhere.

October 19, 2007 | Unregistered CommenterRich

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