WA’s Wiluna mine site ready to proceed
June 17, 2013 (Source: The Australian) — The appeal period has lapsed for Western Australia’s Wiluna uranium mine so work on the project can now officially proceed.
The federal government approved Toro Energy’s estimated $269 million Wiluna uranium project, 30km south of the Wiluna township and about 960km northeast of Perth, in April after the state government also gave approval.
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A 28-day appeal period was set, but there were no applications made in the federal court in that time.
Wiluna is the first new uranium mine in WA to receive federal government approval since the government lifted a ban on uranium mining in 2008.
It will be Australia’s sixth producer of uranium and is expected to begin shipping from 2016 when a global supply shortfall is anticipated and the long-term price is forecast to improve.
Toro managing director Vanessa Guthrie said on Monday that while the current spot market was soft, there were signs of improvement in prices because the longer-term market fundamentals for uranium pricing remained strong.
“Toro can now focus its full attention on completing all technical and commercial studies required to support an investment decision for the project whilst continuing to seek strategic partner support for the development capital needed,” she said.
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