Australian news, and some related international items

Uranium company sells Australian projects

Uranex sells Australian uranium assets, Channel 9 News, 24 Aug 11,”……The Melbourne-based uranium explorer on Tuesday said the projects, including Thatcher Soak in Western Australia and Alligator Rivers in the Northern Territory, were being sold to a “Chinese based investment group”.

Uranex plans to focus on its uranium and coal assets in Tanzania, a spokesman said.

The deal is subject to shareholder and regulatory approvals including the Foreign Investment Review Board.

“We are confident the Australian uranium projects will successfully progress towards production and further opportunities will be created through our alliance,” Uranex managing director Matthew Gauci said in a statement.

The Chinese party holds the first right of refusal for the sale of any other Uranex tenements in Australia.

August 25, 2011 - Posted by | AUSTRALIA - NATIONAL, business

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