Cameco moves on Kintyre uranium project

PETER KLINGER, The West Australian November 22, 2010, 6:02 am
Cameco moves on Kintyre uranium project

The West Australian © Cameco moves on Kintyre uranium project

Canadian uranium giant Cameco is about to take the wraps off its Kintyre project in the East Pilbara as investors eagerly await confirmation of the size of one of Australia's biggest undeveloped deposits of the nuclear fuel.

Two years since buying the deposit off Rio Tinto in a $516 million 70-30 venture with Japan's Mitsubishi Development, Cameco expects to publish a resource figure for Kintyre before the end of next month.

Kintyre is 60km south of Newcrest Mining's Telfer gold mine.

Project operator Cameco, which will host a media group on site today, has been drilling the orebody to confirm historic estimates the asset could contain up to 80 million pounds of uranium oxide.

The Kintyre environmental approvals process is under way while Cameco is also in talks with the region's traditional owners, the Martu people, to secure a mine development agreement. Cameco wants to begin construction in 2013 and start production of up to eight million pounds of U{-3}O{-8} by 2015.


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