Western Australia Grants Energy And Minerals Lease

Jul. 20, 2012 08:30AM PST

Mining Weekly reported the Western Australian Department of Mines has granted Energy and Minerals Australia (ASX:EMA) mining leases for its Mulga Rock uranium project.

As quoted in the market news:

Earlier this week, Energy and Minerals agreed to a A$3-million cash settlement with Yarri, after the two companies resolved a dispute regarding the project licence and allegations that Energy and Minerals had not paid the full amount of the Mulga tenements.
The cash settlement would be done in two tranches, and Energy and Minerals said on Friday that with the granting of the mining leases, the first A$1.5-million installment would be made.

Click here to read the full Mining Weekly report.

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