JOHANNESBURG (miningweekly.com) - Canadian uranium miner Cameco has completed the $430-million acquisition of mining giant BHP Billiton’s Yeelirrie uranium project, in Western Australia.
The company said on Wednesday that it had received the necessary approvals from the Western Australian state government, as well as the Australian Foreign Investment Review Board.
With the acquisition now completed, Cameco would pay a stamp duty of some $22-million to the state government. The miner would also undertake a full document review of the project and develop future plans.
The Yeelirrie project is one of Australia’s largest undeveloped uranium deposits, with historic estimates indicating that Yeelirrie contained a measured and indicated resource of some 139-million pounds of uranium oxide, and an inferred resource of some five-million pounds.