Business
Australia and China sign nuclear cooperation and export agreements
Australia and China sign nuclear cooperation and export agreements.
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\n\nTrading Symbol: SXR - The Toronto Stock Exchange\n\nTORONTO and JOHANNESBURG, South Africa, April 3 /CNW/ - sxr Uranium One\nInc. welcomes reports that Chinese Premier Wen Jiabao and Australian Prime\nMinister John Howard have today signed nuclear cooperation agreements, paving\nthe way for the sale of Australian uranium to China.\nToday's announcement will potentially benefit not only Australia's\ncurrent uranium producers but also Uranium One, as a company with\ndevelopmental stage Australian uranium assets. Uranium One owns the Honeymoon\nUranium Project in South Australia. This Project has a 21 year uranium mining\nlease granted in 2002 by the South Australian state authorities and a uranium\nexport licence granted in 2001 by the Australian federal government.\nThe Corporation is currently completing a feasibility study for the\nProject, including a drilling program consisting of 169 holes, including four\ncore holes (totalling 20,820 metres) completed in March 2006. Data from this\nprogram are being interpreted and will be integrated with existing data and\nused to develop an updated resource estimate in accordance with NI 43-101 and\nto optimize well-field design. The Corporation's October 2004 Honeymoon\nProject engineering cost study is also being updated in connection with the\nfeasibility study.\nNeal Froneman, President and CEO of Uranium One said:\n\"The opening up\" of the Chinese market to exports of Australian uranium\nis a welcome development. Honeymoon is an advanced stage project, which could\nbe in production within 12-18 months of completion of the feasibility study.\nIf our Board determines later this year to proceed with the Project, the\nCorporation will be well positioned to take advantage of the increased\nopportunities for Australian uranium producers which will flow from this\nagreement. In the meantime, we commend the governments for this initiative and\nlook forward to its implementation.\"\n\nAbout sxr Uranium One\n\nsxr Uranium One Inc. is a Canadian uranium and gold resource company with\na primary listing on the Toronto Stock Exchange and a secondary listing on the\nJohannesburg stock exchange. The Corporation owns the Dominion uranium project\nin South Africa and the Honeymoon uranium project in South Australia. The\nCorporation holds a 79% interest in Aflease Gold Limited, which owns ...