Australia?s Uranium: Recent Exploration, Resources and Mine Developments

Uranium exploration expenditure in Australia reached a record level of A$220.5 million in 2008, which has subsequently declined to A$185.2 million for the year ended 30 June 2009. Recent discoveries include: Ranger 3 Deeps east of Ranger open pit (Northern Territory), Pepegoona and Yadglin sandstone hosted deposits (South Australia), and Thunderball project (Northern Territory). Australia?s Reasonably Assured Resources recoverable at costs of <US$80/kg U at June 2009 are estimated to be 1,210,000 t U, 4% higher than the estimate for December 2008. The main additions were in the south eastern portion of the Olympic Dam orebody. The Olympic Dam Expansion is based on a large open pit and will increase output to an annual capacity of 19,000 t U3O8; 750,000 t copper; 800,000 ounces gold. The Four Mile in situ recovery project was approved in July 2009. An ion exchange facility is to be constructed at Four Mile and uranium-bearing resins will be transported to the Beverley plant to recover the uranium. Recent developments at Ranger mine, and Honeymoon, Oban and Yeelirrie projects are discussed.