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4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Minotaur Exploration Ltd    MEP   AU000000MEP8

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07/04 MINOTAUR EXPLOR : Attractive gold assays from Chameleon Deposit, Kal..
07/01 CHILEAN METALS : Enter strategic advisory agreement with minotaur ex..
06/22 MINOTAUR EXPLOR : Drilling progress report for Chameleon gold deposi..
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Minotaur Sells Exploration Plots Near Olympic Dam To BHP

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04/23/2012 | 03:11am CEST

Australian mineral prospector Minotaur Exploration Ltd. (>> Minotaur Exploration Limited) said Monday that it has reached an agreement to sell five exploration tenements near BHP Billiton Ltd.'s (BHP) Olympic Dam operation to the mining giant for A$10 million and BHP's interest in another exploration asset.

BHP will buy the five plots in the Gawler Craton geological zone, where copper-gold-uranium deposits including Olympic Dam have been discovered, for cash plus its 41% interest in the Bonython Hill joint venture with Minotaur, Adelaide-based Minotaur said in a statement.

BHP is expected to make a decision this year on whether to proceed with an expansion at Olympic Dam, a project analysts have estimated could cost close to US$30 billion. The company has been working on plans to develop an open-pit mine alongside existing underground operations to sharply increase production of copper over the next 30 years, as well as the output of uranium, gold and silver.

-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; robb.stewart@dowjones.com

Stocks mentioned in the article : Minotaur Exploration Limited
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Latest news on MINOTAUR EXPLORATION LTD
07/04 MINOTAUR EXPLORATION : Attractive gold assays from Chameleon Deposit, Kalgoorlie
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Managers
NameTitle
Andrew Alexander Woskett Managing Director & Director
Derek Northleigh Carter Non-Executive Chairman
Antonio Peter Belperio Executive Director & Director-Business Development
Roger John Higgins Non-Executive Director
Varis Lidums Secretary
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