Rosatom now selling uneconomic Honeymoon uranium project in South Australia
Rosatom sells Honeymoon uranium mine in South Australia, SMH September 1, 2015 Simon Evans Russia’s state-owned nuclear energy company Rosatom has finally lost patience with the Honeymoon uranium project in northern South Australia and is selling it off to an ASX-listed minnow called Boss Resources.
Honeymoon is one of the five Australian uranium mines in Australia, four of which are located in South Australia, but it has been in mothballs for the past two years because of the plunge in uranium prices which made it uneconomic to continue mining from the site.
The Honeymoon mine is located about 75 kilometres north west of the town of Broken Hill and has been through a series of changes in ownership, the last being a buyout of the Canadian firm Uranium One by the Russian state-owned nuclear company Rosatom. This gave Rosatom ownership of Honeymoon.
Boss Resources chairman Evan Cranston told Fairfax Media on Tuesday that one of the big attractions was the 2600 square kilometre tenement package which came with the project…….
The complex buyout by Boss involves several components including a $2.4 million cash payment, a $200,000 “site access” fee and several milestone payments into the future if the mine does go into production again. http://www.smh.com.au/business/rosatom-sells-honeymoon-uranium-mine-in-south-australia-20150901-gjci9k.html#ixzz3kWS1eIJQ
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