Australian news, and some related international items

BHP passes off dubious West Australian uranium “asset” to Cameco

BHP offloads Australian uranium project to Cameco August 30, 2012 Business  Recorder,    BHP Billiton on Monday said it was selling one of Australia’s largest underdeveloped uranium mines to Cameco for US $430 million, just days after delaying its Olympic Dam copper and uranium project. The world’s biggest miner said an agreement had been signed for its wholly-owned Yeelirrie uranium deposit in Western Australia, and was awaiting clearance from Australian regulators and the state government. ….
Chief executive of Melbourne-based BHP Marius Kloppers last week said the company had no plans to develop any uranium projects other than Olympic Dam. “Generally speaking those mines are too small a scale to fit in our portfolio and the product, quite candidly, is too small to fit into our portfolio on its own,” he said.

August 30, 2012 - Posted by | business, uranium, Western Australia

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