Wiluna appeals period ends
PERTH (miningweekly.com) – Uranium miner Toro Energy’s pathway to development has been cleared after the final appeals period lapsed without a federal court appeal against the development of the Wiluna uranium mine, in Western Australia.
The 28-day appeals period applied from May 17, after federal Environment Minister Tony Burke approved the proposed mine.
“Wiluna is the first new Australian mine since mid-2009 to receive federal government approval and the first in Western Australia since the government lifted the ban on uranium mining in 2008,” said Toro MD Vanessa Guthrie.
She noted that with no appeal lodged, the company was fully focused on bringing Western Australia’s first uranium mine to market.
“Toro’s commitment to the approvals process over the past four years has positioned the Wiluna project well against its peers to deliver potential new supply sources in the second half of the decade. While the current spot market price is soft, there are positive signals of an improvement in prices as the longer-term market fundamentals for uranium pricing remain very strong.”
Guthrie added that Toro would now focus on completing all technical and commercial studies required for an investment decision, while also seeking a strategic partner to support the development capital requirements.
A revised resource estimate was also expected during the September quarter, which would assist the mine optimisation and scheduling work, which formed part of the definitive feasibility study.
The study would be completed by 2014, and subject to the successful project financing, first production at Wiluna was targeted for 2016.
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