BHP Billiton has announced the sale of its wholly owned Yeelrrie uranium desposit in Western Australia to Cameco Corporation for US$430 million.


BHP Billiton Uranium President, Dean Dalla Valle, welcomed the announcement of the site, which is located 630 kkilometres north-east of Perth in the Northern Goldfields region of Western Australia. Uranium was first discovered at the site in 1972 by the Western Mining Corporation, which was in turn acquired by BHP Billiton in 2005.


“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.