Queensland to rescind decades-long ban on uranium mining

The Australian tropical state of Queensland has announced that a decades-long ban on uranium mining will soon be rescinded.

According to the Brisbane Times the Newman government confirmed its decision to lift the ban following a uranium policy review by the state cabinet on Monday morning.

Queensland state premier Campbell Newman said the decision to rescind the long-standing ban was prompted by Prime Minister Julia Gillard's state visit to New Delhi, during which she declared that the antipodean nation is now willing to export uranium to India despite the South Asian giant not being a signatory to the nuclear non-proliferation pact.

"It’s been 30 years since there was uranium mining in this state, and in that time Northern Territory, South Australia and Western Australia have carved out successful uranium industries that deliver jobs and prosperity to their regions," said Newman in an official statement.

Newman's decision stands in stark contrast to statements made prior to his election in March of this year, declaring in November 2011 that the Liberal National Party had "absolutely no plans or desire to approve uranium mines in Queensland."

The announcement comes hot on the heels of Western Australia's decision to issue key environmental approvals for Toro Energy's (ASX:TOE) Wiluna uranium project.