China buys into Australian uranium

[PepinNini Minerals, 13 September] Sinosteel Corp has agreed to buy a 60% stake in the Crocker Well and Mount Victoria uranium field in South Australia for A$30.5 million ($23 million). The deposit, which contains up to 6750 tonnes U3O8 resources at 0.05%, would be developed and operated by the Chinese state-owned company and Australian explorer PepinNini Minerals Ltd. The deal requires approval from the Australian Foreign Investment Review Board. Corporations owned by the Japanese and French governments hold or have held interests in other Australian uranium deposits.

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PepinNini Minerals