Cameco Receives Environmental Nod for Kintyre Uranium Deposit

The Australian reported that Cameco Corp. (TSX:CCO,NYSE:CCJ) has received conditional environmental approval to develop its Kintyre uranium deposit in Western Australia. The company has been conducting consultations and environmental studies for the last four years.

As quoted in the market news:

Cameco has detailed plans to truck up to 3600 tonnes of uranium oxide each year from Kintyre, near Telfer in the Pilbara.

Cameco’s proposal includes the upgrade and construction of 90km of access road to move uranium oxide concentrate to the West Australian/South Australian border, where it will be transported to the Port of Adelaide.

Cameco, which is listed on the New York and Toronto stock exchanges, bought the Kintyre deposit in 2008 with joint venture partner Mitsubishi.

Brian Reilly, Cameco’s Australian managing director, told the news outlet:

We are confident the Kintyre project can be constructed, operated and closed in a way which maintains the ecological functions and environmental values in the area and will ensure all regulatory conditions are met.

Click here to read the full report from The Australian.