Kintyre Receives Conditional Approval

All, March 4, 2015

Western Australia Minister for Environment, the Hon Albert Jacob MLA, has today conditionally approved Cameco and Mitsubishi Development’s Kintyre uranium project in the remote East Pilbara region of Western Australia.

Cameco Australia managing director Brian Reilly has welcomed Minister Jacob’s decision, which follows the highest and most thorough level of environmental impact assessment and more than four years of extensive community consultation and rigorous environmental and technical studies.

“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,” Mr Reilly said.

Cameco is taking prudent steps to prepare its Australian projects for a development decision when market conditions signal new uranium production is required.

“For Kintyre, this means advancing the project through the environmental assessment process, continuing to build strong relationships with stakeholders and identifying additional resources to improve the economics of the project,” Mr Reilly said.

Kintyre is 70% owned by Cameco and 30% by Mitsubishi Development (MDP Uranium Pty Ltd).

The project land is located 60km south of Telfer and 260km northeast of Newman, at the western edge of the Great Sandy Desert in the East Pilbara region of Western Australia.

The uranium deposit was acquired by the JV partners in 2008.

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Cameco

Cameco is one of the world’s largest uranium producers, with operations in Canada, America, Asia and Australia. The company has been actively exploring for uranium in Australia since 1996 and is involved in a number of projects across the country, including two of Australia’s largest undeveloped uranium deposits, Kintyre and Yeelirrie. Cameco’s uranium products are used to generate clean electricity in nuclear energy plants around the world. Cameco’s shares trade on the Toronto and New York stock exchanges.

Kintyre environmental approvals – background information

  • Cameco released the Kintyre Environmental Review and Management Program (ERMP) for public review in November 2013.
  • A total of 43 individual submissions and 2,569 proforma submissions were received during the 12 week public review period, including ten individual submissions from government agencies.
  • Western Australia’s Environmental Protection Authority (EPA) recommended conditional approval in July 2014.
  • The Minister for Environment received 17 appeals against the EPA’s report and recommendations in August 2014. These appeals were investigated by the Office of the Appeals Convenor and a report provided to the Minister for Environment for assessment.
  • A decision from Federal Minister for the Environment, the Hon Greg Hunt MP, is pending.

Media inquiries:

Cadence Willis
08 9318 6600

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