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Lake Maitland uranium/vanadium project, Australia – update

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19th January 2024

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Lake Maitland uranium/vanadium project.

Location
About 105 km south-east of Wiluna township, in Western Australia.

Project Owner/s
Toro Energy.

Project Description
A scoping study has proposed the development of a standalone uranium operation with vanadium by-product as a potential viable alternative to Toro Energy’s previously proposed greater Wiluna uranium project.

The October 2022 study proposed the construction of a mine with a 17.5-year mine life, with average production of 1.3-million pounds and 700 000 pounds of vanadium.

The Lake Maitland pit optimisation successfully increased potential total production by eight-million pounds of uranium and 11.9-million pounds of vanadium.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated pretax net present value, at an 8% discount rate, of A$610-million and an internal rate of return of 41%, with a payback of 2.5 years.

Capital Expenditure
A$270-million, including contingency and engineering, procurement and construction management.

Planned Start/End Date
Not stated.

Latest Developments
Toro has initiated a refresh and update of the scoping study.

The study will run in parallel to the Lake Maitland extension study to evaluate the incorporation of materials from Toro’s 100%-owned Lake Way and Centipede-Millipede uranium deposits into the processing operation at Lake Maitland.

Key Contracts, Suppliers and Consultants
SRK Consulting Australasia (scoping study).

Contact Details for Project Information
Toro Energy, tel +61 8 9214 2100 or email info@toroenergy.com.au.

Edited by Creamer Media Reporter

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