Nuclear Weapons company gets go-ahead for South Australian uranium mine
Final environmental OK for Four Mile World Nuclear news, 16 August 2013 The start of operation of the Four Mile uranium mine in South Australia has moved a step closer with final environmental approval. However, the project partners have yet to agree on a development plan.
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The state Environmental Protection Authority (EPA) has now granted a mining and mineral processing licence for Four Mile. The licence also covers radiation and radioactive waste management plans for the in-situ leach (ISL) mine…..
The Four Mile project is a joint venture between Alliance Resources (25%) and Quasar Resources (75%). The project is managed by Heathgate Resources affiliate Quasar. Both Quasar and Heathgate are subsidiaries of US-based General Atomic Technologies Corp.….
Disputes delay start-up
The start of production from the project has been stymied by legal disputes between Alliance, Quasar and Heathgate. There are on-going Federal Court proceedings by Alliance seeking restitution of its full ownership of the Four Mile deposit due to delays and disagreements.
In May 2012, Alliance said it had agreed to form a strategic alliance with Japanese trading house Itochu Corporation. Under the terms of this, Itochu will have the right to acquire a 14.9% shareholding in Alliance within six months of all litigation being finally determined. Furthermore, within 12 months of that final determination, Itochu will have an option to acquire a further 25.1% shareholding in Alliance.
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