SOUTH Australia is a step closer to having a new world-class uranium mine, Premier Mike Rann says
An application has been lodged to develop the Four Mile deposit about 10km north west of the Beverley uranium mine in northern South Australia, Mr Rann said.
"The Four Mile deposit, which was discovered just back in 2005, is considered one of the most significant uranium discoveries anywhere in the world in the last 25 years - the biggest find since Olympic Dam,'' Mr Rann said.
"I understand the company is seeking to break the record for the time between the discovery of the resource in 2005 and production by having an operating mine by early 2010.
Although the mine size is not as big as the proposed Olympic Dam expansion, the grade of the uranium is 10 times bigger than the uranium found at Olympic Dam, which is good news.''
The application was lodged by Quasar, an affiliate of Beverley operator Heathgate Resources which is in a joint venture with Alliance Resources to develop the Four Mile resource.
The new mine would employ about 200 people and process the uranium at the nearby Beverley mine.
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Could be a good day tomorrow.... :)
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