Cameco waits for higher uranium prices to start production at Aus projects
PERTH (miningweekly.com) – Canadian company Cameco will not bring its Australian uranium projects into production until prices improve.
Speaking at a Committee for Economic Development of Australia briefing on Wednesday, Cameco Australia MD Brian Reilly noted that, while significant work had been done at both the Kintyre and Yeelirrie projects, Cameco was awaiting an upturn in uranium prices to bring the projects into production.
“For Australia, our strategy is to advance projects at a measured pace and to get the projects ready for when market demands new uranium production,” he noted.
Cameco completed a prefeasibility study at the Kintyre project in 2012 and it has inked an indigenous land use agreement. The company has also had its environmental review and management programme approved by the Western Australian Minister for Environment, as well as received state and federal environmental approvals.
“At Kintyre, we are facing a resource challenge and a tough uranium market, so we will continue to explore for more uranium at the mine, to take advantage of a time when the uranium price recovers,” Reilly said.
Environmental approvals for the Yeelirrie mine were started in the fourth quarter of 2014 and were currently going through a public review.
Once in production, Yeelirrie was expected to produce up to 7 500 t/y, or 16.5-million pounds a year, of uranium oxide over a 15-year mine life.
Comments
Research Reports
Projects
Latest News
Showroom
FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...
VISIT SHOWROOM
Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
