Venture Minerals' decision to suspend operations at its Riley project is extremely disappointing.
In their statement to the ASX, the company cites "operational risk associated with on-going appeals against the project's approval as well as an unfavourable broader economic environment" as the major reasons for its decision.
The statement goes on to say that it was well-placed to move ahead with the Riley project in mid-2013 but was delayed by appeals.
This is the strategy Green front groups such as Save the Tarkine use to threaten mines and the jobs they bring.
The Greens should not, however, be popping the champagne corks as Venture has signalled that it remains committed to Riley and to its flagship Mt Lindsay project.
There is good reason for confidence in Venture achieving progress with both projects in the future, and the Liberal Government remains steadfast in its support.
Unlike Labor and the Greens, we support our mining industry and we will work with companies such as Venture that want to invest and create jobs in our state.