BHP Cancels $30 Billion Olympic Dam Copper-Uranium Mine Expansion Near Roxby Downs

Published on Wednesday August 22 2012 (AEST)  

BHP Billiton has shelved its $30 billion Olympic Dam expansion and will go back to the drawing board to find a cheaper alternative. Market conditions, subdued commodity prices and higher capital costs led to the decision, said BHP chief executive Marius Kloppers in a statement. 

"As we finalised the details of the project ... it became clear that the right decision for the company and its shareholders was to continue studies to develop a less capital-intensive option to replace the underground mine at Olympic Dam," Mr Kloppers said. 

 "Value is always our primary consideration. We believe today's decision reflects an appropriate, prudent and disciplined course of action." 

The mine would have become the world's biggest open cut copper and uranium mine at six Kilometres long and one Kilometre deep. 

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Paladin Energy Signs $200m Uranium Offtake Contract

Published on Wednesday August 15 2012 (AEST)  

Paladin Energy has signed a massive US$200 million long term off-take contract for its Uranium. According to the company it has signed a six year off-take agreement with an unnamed "major utility" to provide 13.73 million pounds of uranium from 2019 through to 2024. 

 It will supply the uranium from its current African mining operations or its upcoming projects. All of the "uranium delivered under the long term contract will be sold at market prices prevailing at the time of delivery bounded by escalating floor and ceiling prices," Paladin says. 

 As part of the agreement, the unnamed utility will hold security over 60.1% of Paladin's Michelin project in Canada. 

The prepayment of the US$200 million will be applied to the repayment of US$ 134 million worth of convertible notes, with the remainder held in the balance sheet as working capital. Paladin "will now re-evaluate its strategic options in the light of this major achievement"

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Uranium Stocks - ASX Australia Current Market Caps As At End Of June 2012 Qrt.

Published on Sunday August 12 2012 (AEST) 

 Speculative Australian ASX Listed Uranium Juniors current Market Caps, excluding producers Paladin/Energy Resources/BHP Current as at Aus\gust 02 2012. 

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Uranium Stocks Australia Current Cash On Hand As At June 2012 Qrt.

Published on Friday August 10 2012 (AEST)

Speculative Australian ASX Listed Uranium Juniors current Cash Position, excluding producers Paladin/Energy Resources/BHP 

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How Is Uranium Mining Conducted in the United States

Published on Tuesday July 17 2012 (AEST)

Uranium Resources' Mark Pelizza explains how uranium is mined--either through a conventional or in situ uranium mining process--to provide fuel for U.S. nuclear energy facilities. . 

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