Toro Energy has received federal approval for its Wiluna uranium mine in WA, which is set to become the state's first uranium project.
In a statement yesterday Toro said the approval was the last environmental hurdle for the project, and the mine would now be subject to final investment decisions determined by the company board.
Toro managing director Vanessa Guthrie said the approval created a stable operating environment for the company following two delays by Federal Environment Minister Tony Burke.
“Wiluna is the first new Australian uranium mine since mid-2009 to receive federal and state government approval,” she said.
“Completion of the environmental approvals delivers Toro the regulatory certainty needed to fully underpin our negotiating capacity and to now advance commercial financing arrangements and product off-take agreements with potential partners.”
“It also provides a clear pathway to complete detailed engineering design, infrastructure and cost estimates for Wiluna.”
In a statement Burke said the $280 million mine had been approved with 36 conditions to help manage its environmental impact.
“The 36 strict conditions I have put in place will guard against any negative impacts from radiation or to groundwater and surface water, and include precautions to ensure that once the mine is closed, the site is safe for humans and animals, and is non-polluting,” he said.
Toro said if financing arrangements went to plan the mine would be in production by the end of 2015.