BHP Sells Yeelirrie Uranium Deposit To Cameco

Seeking Alpha reported BHP Billiton Limited (NYSE:BHP,TSX:BHP) will sell its Yeelirrie uranium deposit to Cameco Corporation (TSX:CCJ.NYSE:CCO) for $430 million.

As quoted in the market news:

Sources at BHP have revealed that it would be better offwithout the undeveloped mine and it would be better for the company to concentrate on larger and more profitable mines than Yeelirrie, which just continues to exist in Western Australia in a state of dormancy. BHP Billiton ‘hoped’ that Cameco woul be able to develop the mine as it is too small a mine to fit into its portfolio.