Four Mile uranium mine delayed, for at least months

Four Mile mine’s four-month setback

Matt Chambers | September 22, 2009

Article from: The Australian

WORK on what is expected to be the nation’s next uranium mine, the Four Mile project in South Australia, has been set back by at least four months after the proponents failed to secure a mining lease as quickly as expected.

Instead of starting in January next year as previously forecast, the mine will not be commissioned until at least April, Alliance Resources said yesterday…………

Alliance has a 25 per cent stake. The rest of Four Mile is owned by Quasar Resources, an affiliate of US company Heathgate Resources, which owns the Beverley uranium mine 8km to the southeast.

Alliance managing director Patrick Mutz said construction could not begin because a mining lease had not yet been granted by the South Australian government.

The delays related to the registration of an already signed Native Title agreement, he said……………………

The only other approved Australian mine, the 400-tonne-a year Honeymoon project, has been delayed since last year but is also targeting 2010 production.

Alliance shares fell 8c to 74c yesterday.