nuclear-news

Cameco buys Australian uranium deposit from BHP Billiton for $430-million

http://www.uraniumblog.com/2012/08/cameco-buys-australian-uranium-deposit-from-bhp-billiton-for-430-million.html

 Thomson Reuters 2012

August 27, 2012 – National Post

“…BHP Billiton has agreed to sell an Australian uranium deposit to Canada’s Cameco Corp for US$430 million, as the top global miner sheds assets to help improve returns and shore up cash in a deteriorating commodity market. The move marks another sign of BHP’s doubts about the future of uranium demand in the wake of Japan’s Fukushima disaster, coming less than a week after the company shelved a US$20 billion-plus expansion of the world’s largest known uranium deposit, Olympic Dam, in South Australia. “We can’t pursue all of the growth operations that are before us, and we need to develop the ones with the best returns,” said BHP spokesman Antonios Papaspiropoulos….”

August 28, 2012 - Posted by arclight2011 | Uncategorized