Rio Tinto names Shell’s Katie Jackson as new copper chief
Jackson, who is the current president of National Grid Ventures, an energy group, joins Rio Tinto on September 1.
Alliance Resources and Quasar Resources, joint venture partners in a South Australia uranium mine, have been granted a 10-year mining lease on the property located 550 kms north of Adelaide. The lease allows the JV to develop a mining and rehabilitation plan.
The news caused stock in Alliance Resources (ASX:AGS) to climb 21% on the ASX Friday.
9 News quotes Tom Koutsantonis, South Australian Minister of Natural Resources, saying the Four Mile uranium deposit contains 10 times the uranium grade found at BHP Billiton’s Olympic Dam:
“I am confident that Four Mile is the latest in a pipeline of uranium projects that will help realise the benefits of the mining boom for all South Australians and tap into the growing global demand for energy.”
The project is located near the existing Beverley uranium mine, where ore from Four Mile would go for processing.
75%-owner Quasar Resources is an affiiliate of Heathgate Resources which owns and operates the Beverley uranium mine- Australia’s third uranium mine and only insitu operation. The Four Mile deposit is also expected to be mined using the insitu method, with two mineralized zones occurring 140 to 210m below the water table.
The deposit is estimated to host 3.9 million tonnes of 0.37% uranium oxide containing 32 million pounds of uranium.
