UPDATE: BHP Plans To Mine Uranium From Yeelirrie In 2014
May 21 2009 - 8:40PM
Dow Jones News
BHP Billiton Ltd. (BHP.AU) said Friday it plans to produce the
first uranium from its Yeelirrie project in Western Australian in
2014 and has submitted documents for the project with the state and
federal governments.
"Current plans project construction commencing in 2011, with
initial production from the mine in 2014, subject to government and
BHP Billiton board approvals," the miner said in a statement.
BHP has referred its plans for the Yeelirrie project to the
Western Australian Environmental Protection Authority and the
federal Department of the Environment, and the company said the
referral was an important step in the progress of the project and
the preparation of an environmental impact statement.
A spokesman for the miner said production from Yeelirrie is
expected to be in the order of 5,000 metric tons a year.
The company has recently completed a concept study on the miner
and it is now carrying out a pre-feasibility study.
Federal Resources & Energy Minister Martin Ferguson said he
believes the mine will proceed subject to appropriate regulatory
approvals.
"The demand for uranium is good and it's going to continue to
grow" with 64 nuclear plants under construction offshore, he said
in an interview on Australian Broadcasting Corp. radio.
Australia is a major global supplier of uranium, accounting for
19% of global yellowcake production from its 36% share of the
world's known uranium resources.
Australia exported 10,139 metric tons of uranium oxide valued at
A$887 million last fiscal year ended June 30, 2008, according to
official data.
-By Ray Brindal, Dow Jones Newswires; 612-6208-0902;
ray.brindal@dowjones.com
(Alex Wilson in Melbourne contributed to this report)