Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
Uranium Exploration Australia (UXA) has completed the transfer of all of the assets and intellectual property of the Prompt Fission Neutron (PFN) borehole logging tool manufacturing and service business previously agreed with GeoInstruments. The purchase further strengthens UXA’s fully-owned borehole logging business, Geoscience Associated Australia, which prior to this agreement was the sole Australian licensed distributor and servicer of PFN technology. The PFN borehole logging tool is unique in that it directly measures the content of uranium in boreholes, overcoming the problem of dis-equilibrium which limits the interpretation of uranium concentrations using gamma logging tools. It is becoming increasingly used within the uranium mining and exploration industries, and played a significant role in the discoveries of two of Australia’s largest uranium deposits, the Beverley mine and Four Mile deposits in South Australia.
