It comes after Fairfax Media revealed directors of the company, EJ Resources, were former directors of the firm Fifth Element Resources whose shares were suspended by the Australian Securities Exchange after inexplicably rocketing to 40 times their value in 2014.

This valued the company at more than $300 million, despite it not announcing any significant news in relation to four gold and copper exploration licences it holds in western NSW.

The withdrawal of EJ Resources' application means no company is applying for a uranium exploration licence in NSW, four years after the law was changed in 2012.

In that year, then Premier Barry O'Farrell announced cabinet had decided to overturn the 26-year ban on uranium exploration to take advantage of the mining boom.

"We are not about to rush into mining uranium until we have carried out the necessary environmental and exploration checks and have had a mature and sensible discussion about utilising this resource, but we would be crazy not to look at whether this is a viable industry which would deliver jobs and revenue to NSW," Mr O'Farrell said at the time.

Mr O'Farrell had previously linked consideration of the move with the federal Labor Party's decision to overturn its ban on export of uranium to India.

Then resources and energy minister Chris Hartcher said overturning the ban "presents an exciting opportunity for NSW" and that the government looked forward to "a vibrant uranium exploration industry".

NSW Labor, the Greens and environment groups condemned the move, but legislation was passed by the State Parliament.

The NSW government began an expressions of interest (EOI) process from which six companies were invited to apply for the right to explore for uranium.

But only EJ Resources applied, seeking three uranium exploration licences around Broken Hill.

Last November, after the revelations about links to Fifth Element, the Division of Resources and Energy sought "additional information" from EJ Resources.

On Friday NSW Energy and Resources Minister Anthony Roberts said EJ Resources had withdrawn its application on April 28.

"The EOI process for uranium exploration was designed to help the NSW government better understand the extent and distribution of uranium deposits in NSW," Mr Roberts said.

"The EOI process was undertaken because the ban on exploration was being lifted and this allowed a measured and orderly process of removing the ban and allowing applications to explore.

"This process made clear there is currently no interest from the market in exploring for uranium and the ban on mining uranium remains in place."