JOHANNESBURG (miningweekly.com) – ASX-listed uranium company Forte Energy would sell its 50% interest in the Maroochydore copper project, in Western Australia, to its joint venture (JV) exploration partner Birla Maroochydore, a wholly owned subsidiary of ASX-listed Aditya Birla Minerals.

In August, Forte Energy reached an agreement to sell its Millennium copper project in Queensland to Element Minerals Australia.

“With sale agreements now in place for both its Australian copper/cobalt projects, Forte Energy would be well resourced and able to focus its attention on and expedite the exploration of its uranium prospects in Guinea and Mauritania,” the company said in a statement.

Under the terms of the Maroochydore agreement, Forte Energy would receive a cash payment of A$2-million and be released from any current or future obligations under the JV agreement.

The agreement was subject to obtaining Ministerial consent under the Mining Act and completion of a formal sale agreement, with settlement expected before the end of December.

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