News that uranium hopeful Vimy Resources has obtained approval from the WA Department of Mines, Industry Regulation and Safety (DMIRS) for its Mulga Rock mining proposal is disappointing but does not fundamentally change the high level of uncertainty around the project’s viability and future, according to state and national environment organisations.
The company still needs to secure further licences, such as a works approval from the Department of Water and Environmental Regulation (DEWR).
Vimy also faces other hurdles to its efforts to demonstrate “substantial commencement” at Mulga Rock ahead of its looming 16 December deadline.
The company lacks an Indigenous Land Use Agreement and the project configuration Vimy has presented to the market varies significantly with the approved project.
Further, the company has not secured finance or made a board level Final Investment Decision (FID) on the project.
In July the CEO of Toro Energy, another WA uranium hopeful, informed the company’s annual meeting that 'no-one can get finance to build a uranium mine in Australia'.
Vimy’s difficulty in securing finance for the project is compounded by the company’s comparable failure and its own FID reluctance.
“It is a long road from a preliminary approval to an operating project,” said Mia Pepper from the Conservation Council of WA.
“Vimy’s plans to dig dangerous uranium will continue to be contested at every step.
“Western Australians want a clean energy future, not unproven nuclear hopefuls over-promising and under-delivering.”
ENDS
MEDIA INFORMATION: The Conservation Council of WA (CCWA) is the state’s foremost non-profit, non-government conservation organisation representing more than 100 environmental organisations across Western Australia.
CONTACT: For any enquiries relating to this release, please contact Robert Davies on 08 9420 7291 / 0412 272 570 or by email, [email protected]