The Tarkine National Coalition (TNC) lodged its Federal Court submission today opposing development of the Riley iron ore mine by Venture Minerals

John Robertson

PortfolioDirect

The Tarkine National Coalition (TNC) lodged its Federal Court submission today opposing development of the Riley iron ore mine by Venture Minerals. The mine had already been funded and approved by the relevant state and Commonwealth authorities. An initial favourable ruling from a Federal Court judge about the merit of the approvals is now the subject of an appeal hearing on 13 November. The Federal Court decision would be of little investor interest now that the mine is not going ahead anyway because of the delays except that Venture Minerals has tin prospects in the same area. TNC protest rallies in Melbourne, Brisbane and Sydney this week against any tin development are a foretaste of what is to come once approvals for it are also sought. A Federal Court ruling will have repercussions for whether Tasmania can rejuvenate its historical tin industry to take advantage of emerging market opportunities. Venture Minerals has already flagged a move to south east Asia as an alternative to fighting on in Tasmania.


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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...

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