Japan’s Mitsui and Canada’s Uranium One have reached a milestone in their development of the $118 million state-of-the-art Honeymoon uranium mine.
Construction began in April on the mine in South Australia’s north-east, 37 years after yellowcake was first found at the site.
Premier Mike Rann has congratulated the Honeymoon joint venture as the first foray by a Japanese investor into Australia’s uranium mining industry.
“Honeymoon will be capable of producing about 400 tonnes of uranium oxide a year, worth about $80 million to South Australia’s tally of annual mineral exports,” Mr Rann says.
The mine is one of the many projects proceeding in South Australia’s resource industry.
Mineral Resources Development Minister Paul Holloway says four or five mines are expected to be approved in the next 12 months, building on the 11 operating in the State now.
Among them is the Jacinth-Ambrosia mineral sands project, which is on track to begin operations in 2010, while the proposed Olympic Dam expansion took another step toward fruition with the release of its environmental impact statement in early May. Submissions will be received until 7 August.
South Australia’s resources sector remains strong despite the downturn in mineral exploration spending reflected in the latest Australian Bureau of Statistics figures.
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