Rio announces major shake-up Perth Now

Felicity Williams and George Lekakis

October 16, 2009

“…………….With Chinese and Japanese nuclear power companies eyeing more investment in Australia’s uranium sector, BHP is facing a big decision on whether to swoop before the best assets are put out of its reach.  BHP owns the Olympic Dam mine in South Australia and wants to increase its exposure to the feedstock ahead of an expected rise in global demand as more nuclear generators are commissioned in China and India.

Its preference is still to acquire Rio’s uranium assets _ the Ranger mine and Jabiluka deposit in the Northern Territory _ but if this is not achievable because of competition concerns or Rio’s unwillingness to sell, it would have to consider alternative targets.Rio’s strategic ambitions in uranium are not clear.

Rio announces major shake-up | PerthNow

Tags: BHP Billiton, business and costs

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