27 Aug 2012

Clayton Utz advises Cameco on agreement to acquire Yeelirrie Uranium Project in Western Australia

Perth, 27 August 2012: Clayton Utz has advised Cameco Corporation, one of the world's largest uranium producers with listings on the Toronto and New York Stock Exchanges, on an agreement with BHP Billiton for the acquisition of the Yeelirrie uranium project in Western Australia for US$430 million.

Energy & Resources / M&A partners Heath Lewis and Brett Cohen led the Clayton Utz team in Perth that advised on the transaction, which is subject to regulatory approvals.

Yeelirrie is one of Australia’s largest undeveloped uranium deposits, located about 650 kilometres northeast of Perth and about 750 kilometres south of Cameco’s Kintyre exploration project.

Commenting on the transaction Heath said: "Clayton Utz is pleased to once again work with Cameco on this significant acquisition. The Firm looks forward to continuing our association with a world leader in the uranium industry."

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.