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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Uranium was discovered at the Yeelirrie site in 1972 by Western Mining Corporation, which was acquired by BHP in 2005.
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
