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The failure of Premier Campbell Newman to establish a clear policy and welcoming environment on uranium mining may cost Queensland millions in investment, opined the chairman of Perth’s Summit Resources.

According to the Herald Sun, Summit Resources chairman Brendan O’Hara claimed that uranium developers are practically being driven away from Australia’s resource-rich sunshine state by the Newman government. Investors and miners have reportedly left for greener pastures in other states or even other countries.

Chairman O’Hara cited the example of Paladin Energy, an important Summit Energy shareholder. Paladin Energy has discarded plans to exploit deposits near Queensland’s Mount Isa. Instead, the company has opted to support to a uranium project in Canada.

Campbell Newman is the leader of the Liberal National Party of Queensland. He ascended to the position of premier of the state in March of this year.

Chairman O’Hara had earlier declared that Newman and his leadership team would provide a “positive response” on the lucrative issue of uranium mining in Queensland. Newman, however, disappointed him mere months into his tenure as Queensland premier.

"We have no plans to mine uranium in Queensland," Newman informed parliament shortly after entering office.

According to Rob Katter, the state member for Mount Isa, Queensland possesses around AUD$20 billion in uranium deposits. Mr. Katter said that the Newman government practically neglected this lucrative local resource.

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