Antinuclear

Toro Energy looking for funds for Wiluna uranium project, but cautious about its future

TORO Energy will consider all project funding options as it moves towards developing Western Australia’s first uranium mine.. Adelaide Now, Christopher Russell  December 01, 2011

Mr Hall told the company’s annual general meeting in Adelaide yesterday Toro estimated it will cost about $280 million to build the mine at Wiluna in south-central WA…..

Toro was looking for options to fund Wiluna, which would produce about 820 tonnes a year of uranium….. “In the current climate, the most likely method will be a joint venture partner who takes part-ownership in return for both funding and offtake of uranium….

Chairman Erica Smyth said the company was proceeding very cautiously……”We’re looking at all the options to finance this.” Both Dr Smyth and Mr Hall said the industry had been dealt a severe blow by the Fukushima disaster…. http://www.adelaidenow.com.au/business/toro-seeks-partners-for-280m-wa-mine/story-e6frede3-1226210632139

December 2, 2011 - Posted by Christina Macpherson | business, uranium, Western Australia