“This is one of the most substantial uranium discoveries anywhere in the world in the past 25 years,” Mr Weatherill said.
The project already has more than $120 million of private investment. The initial stage of operations will collect information and assess mining conditions, processing early resources at the nearby Beverley facilities.
The mineral deposit was first discovered in April 2005. It's expected to produce up to 1.6 million pounds of material in the first 2014.
“Following on from the successful mining method of the nearby Beverley and Beverley North deposits, the new Four Mile Mine represents another important chapter in continuing uranium mining in this region.”
Indigenous communities will also benefit from the mine. Heathgate, A Quasar Recources Affiliate, will provide services to the mine.
Of the 140 people they employ, 20 per cent are local Adnyamathanha people. Traditional owners will receive native title payments as well as opportunities for employment with the new mine.
The South Australian resources and energy sector is expected to create 35,000 jobs over the next 15 years. The Four Mile project was part of the state government's Plan for Accelerated Exploration (PACE) program.
South Australian uranium miners over the last decade have exported their product around the world, including; United Kingdom, France, Sweden, Belgium, Japan, China, South Korea, Taiwan, Canada, the United States and Spain.
Quasar Resources: Four Mile Project
Alliance Resources: Four Mile Project
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