BHP Billiton has signed an agreement to sell its wholly owned Yeelirrie uranium deposit in Western Australia to Cameco Corporation for US$430 million.
BHP Billiton Uranium President, Dean Dalla Valle, said:
“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.”
The sale is subject to relevant approvals from the Australian Foreign Investment Review Board and the Government of Western Australia.
Yeelirrie is located 630 kilometres north-east of Perth in the Northern Goldfields region of Western Australia. Uranium was discovered at the Yeelirrie site in 1972 by Western Mining Corporation, which was acquired by BHP Billiton in 2005.