BHP to offload Australian uranium project
Mining giant BHP Billiton has signed an agreement to sell its Yeelirrie uranium deposit in Western Australia.
Mining giant BHP Billiton has signed an agreement to sell its Yeelirrie uranium deposit in Western Australia.
Yeelrrie, located 630km north-east of Perth in the Northern Goldfields region, will be sold to uranium titan Cameco Corporation for $430m.
"Cameco is one of the world's largest publicly listed uranium producers and is highly respected in the industry. We believe they are well placed to carry this project forward in a responsible manner," said BHP's Uranium President Dean Dalla Valle.
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Uranium was discovered at the Yeelirrie site in 1972 by Western Mining Corporation, which was acquired by BHP in 2005.
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