In August 2005, an Australian mining company, Yamarna Goldfields, suggested that Niue might have the world's largest deposit of uranium. By early September these hopes were seen as overoptimistic, and in late October the company cancelled its plans, announcing that exploratory drilling had identified nothing of commercial value.NIUE: No Mineable Uranium, Says Exploration Company, Pacific Magazine, 3 November 2005. Retrieved 24 December 2007. The Australian Securities and Investments Commission filed charges in January 2007 against two directors of the company, now called Mining Projects Group Ltd, alleging that their conduct had been deceptive and that they engaged in insider trading. This case was settled out of court in July 2008, both sides withdrawing their claims.
