The Federal Government has given Energy Resources Australia (ERA) the green light to start mining at Homebush Bay between Olympic Games events.

The company behind the Jabiluka and Ranger mines in Kakadu National Park has discovered a rich uranium belt beneath the Olympic Stadium and will start mining immediately.

Responding to criticism of poor timing, the Minister for Industry and Resources, Senator Nick Minchin, said today that uranium was one of Australia's most profitable exports and would do a lot more to increase the nation's GDP than the Olympics.

"These bleeding hearts that bang on about damage to our international reputation have obviously never stood proudly at the face of a great open-cut mine, watching tonnes of quality-grade uranium ore being dredged from our fine Australian soil.

"This mine could be best thing yet to happen to SOCOG. The uranium could generate enough electricity to keep the stadium humming till the closing ceremony!" Senator Minchin said.

ERA spokesperson Mr Will Newcombe has admitted that the mining could be a bit inconvenient at times during the games, but said they had to strike while the iron was hot.

"Look, I'm a bit disappointed myself. I had tickets to the shotput finals which may now have to be moved to Kings Langley Public School. But we've bought the EIS and we need to make a start before we find out it's sacred land."

A small group of protesters have already begun gathering outside the stadium. Asked about the low numbers in attendance, one protester said most of his friends from the Jabiluka stockade couldn't make it as they had been jailed under the Northern Territory's mandatory sentencing laws.

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