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    BHP positioning to sell uranium to China

  • China Aluminium Network
  • Post Time: 2008/9/24
  • Click Amount: 489

    BHP Billiton Ltd, the world's largest mining company, is positioning itself to supply China with uranium for "decades" as the country ramps up its nuclear plant program in a carbon conscious world.


    Chief executive Marius Kloppers said nuclear energy would play a "bigger role" in China going forward and the country was "gearing up" for a bigger build program as it developed its nuclear program.


    BHP Billiton holds the largest known uranium deposit at its Olympic Dam mine in South Australia, which is about 560 kilometres north of Adelaide.


    BHP Billiton could potentially expand its uranium portfolio if the company is successful in its proposed $US140 billion ($A168.51 billion) takeover of rival Rio Tinto Ltd.


    Rio Tinto is the world's second largest uranium producer and hold's the Rossing mine in Namibia and a 68.4 per stake in Energy Resources of Australia Ltd, which operates the Ranger mine in the Northern Territory.


    The proposal requires approval from regulators in the European Union, United States, Australia and South Africa.

    Source: The Age
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