Western Australia expects four more uranium mines over next ten years

The premier of Western Australia has indicated that four new uranium mines could be built within the state over the next decade.

The West Australian
reports that Colin Barnett remains optimistic about the prospects for new uranium mines in the mineral-flush Australia state, despite delays in environmental approvals from the Federal government for its first new uranium mine and a downturn in the uranium market due to the Fukushima nuclear disaster.

Toro Energy’s (ASX:TOE) Wiluna project in central Western Australian recently met with setback after the Federal government delayed its environmental approval process, forcing the company to re-jig its development schedule. The project was set to become Western Australia’s first new uranium mine following the rescinding of a ban on mining of the radioactive minerals four years ago.

Despite the delay, which mean the project won’t enter operation for another several years, Barnett expects the four most advanced deposits in the state to become productive uranium mines “within the next 10 years.”

In response to strenuous opposition from Greens groups Barnett said that certain parties had engaged in “a fair bit of scaremongering,” and that most people in Western Australia were behind the government’s efforts to properly regulate the industry.

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