Toro Energy Limited (ASX:TOE) Wiluna Uranium Project Enters Public Review Phase of Approval
It will be the first of Western Australia's modern era uranium projects to reach this important milestone.
On Monday, Toro will release its Environmental Review and Management Programme (ERMP - elsewhere in Australia known as an Environmental Impact Statement) and associated documentation for Wiluna, including a range of environmental management strategies and detailed technical study reports.
The documentation will be on public exhibition for 14 weeks. It covers all information required for the Western Australian and Federal Governments to make their assessment of the project, as outlined in the previous government approved Environmental Scoping Document from July last year.
The public will be invited by the Office of the Environmental Protection Agency, WA (OEPA) to review and comment on the ERMP and submit comments to the OEPA. Toro will then submit a final ERMP after consideration of comments received by the OEPA, on which the Western Australian and Federal Governments will make their final decisions about the project.
During the 14 week ERMP public exhibition period, Toro will hold information days in Western Australia at Wiluna, Kalgoorlie, Menzies and Leonora. The dates and venues will be advertised in advance.
Toro is continuing to complete its technical work on the project, including a pilot process plant which will commence shortly, along with a full updated resource estimate, both targeted for completion in August this year. This work will then feed into the Definitive Feasibility Study for the Wiluna uranium project, due for completion by approximately April next year.
Subject to approvals, the Company is targeting Toro Energy Board commitment to the project by the end of the third quarter, 2012, to enable the commencement of on-ground construction by late in 2012, and initial commissioning production by late in 2013 and first uranium sales in 2014.
Toro is continuing meetings with potential customers for future direct uranium sales agreements, in parallel with joint venture and partnership discussions with interested parties for potential participation in the project via project financing and uranium offtake agreements.
About Toro Energy Limited
Toro Energy is a modern Australian uranium company with progressive project development, acquisition and growth. The company is based in Adelaide, South Australia with a project office in Perth, Western Australia.
Toro’s flagship and wholly-owned Wiluna uranium project (includes existing mining lease) is 30 kilometres southeast of Wiluna in Central Western Australia.
Wiluna contains two shallow calcrete deposits, Lake Way and Centipede, with prefeasibility and optimisation studies completed and a definitive feasibility study underway. Toro has advanced the Approvals process with an anticipated date of mid-2012, construction through 2013 and first uranium sales in 2014.
Toro has a new uranium project at Theseus in Western Australia, and owns uranium assets in Northern Territory, South Australia and in Namibia, Africa.
Toro Energy Limited