Western Australia gold mining ripe for more (friendly) M&A
The small and fragmented WA gold sector remains ripe for consolidation, even after several deals already so far this year.
Uranium developer, Toro Energy Limited (ASX:TOE) has commenced community consultation ahead of the public release of an environmental statement seeking government approval for an extension of the Company’s advanced and already approved Wiluna Uranium Project in Western Australia.
Toro has lodged a draft Public Environmental Review (PER) with the Western Australian Environmental Protection Authority (EPA). The Review assesses in detail, the impacts of the proposed extension of the Wiluna Project through development of its Millipede and Lake Maitland deposits. Current approvals are already in place for Wiluna’s Centipede and Lake Way deposits.
The PER is scheduled for release later this year for a 12 week public review.
In advance of the public review phase, Toro has initiated community consultation, to include in part, hosting a visit to the project site at Wiluna by members of the Conservation Council of Western Australia (CCWA) and Federal and State politicians. This follows previous site visits by the CCWA during which Toro explained its proposals for mining the approved Centipede and Lake Way deposits.
Earlier this month, Toro met local Aboriginal leaders to provide an update on the project and to further discuss the Company’s proposals to create local employment opportunities over the mine’s life.
“Toro has an agreement with the Wiluna People to provide training and employment with the Native Title holders of land on which the Centipede, Millipede and Lake Way deposits are located,” Toro’s Managing Director, Dr Vanessa Guthrie, said.
‘Our agreement involves Toro providing funding and other resources to enable local Aboriginal people, either as employees or through their own business ventures, to build capacity in environmental monitoring required by the Project, including radiation and groundwater.
“We are also exploring possibilities for their involvement in land management and site rehabilitation. These programs are designed to help the local community understand how the
www.toroenergy.com.au ABN 48 117 127 590 ACN 117 127 590 ASX TOE
ADDRESS L3, 33 Richardson Street, West Perth, Western Australia 6005
TEL +618 9214 2100 FAX +618 9226 2958 EMAIL [email protected]
Wiluna Project is being undertaken without adverse impacts to public health, safety and the environment.
“The Company is also consulting with the Barwidgee People who claim an interest in the land on which the Lake Maitland deposit is located. Development would not commence at Lake Maitland until mining is exhausted at the Centipede and Millipede deposits, anticipated to take about six years.”
Dr Guthrie said that once Toro had EPA approval to publicly release the PER for mining at Millipede and Lake Maitland, it would continue consultation with the wider community, including project information days in Kalgoorlie, Leonora and Wiluna during the PER public review phase.
“Much is already known about the environmental impacts of mining at Millipede and Lake
Maitland through previous studies,” Dr Guthrie said.
‘The Millipede deposit, acquired by Toro in 2011, is an extension of, and immediately adjacent to the Centipede deposit which has already received government environmental approval. The environmental factors at Lake Maitland were extensively studied by the previous owner prior to project acquisition by Toro late in 2013 and the potential impacts of mining are well understood.
Toro’s overarching strategy for the extended project remains to integrate mining at Centipede, Millipede, Lake Maitland and Lake Way and use one central processing plant, already approved by government, adjacent to the Millipede/Centipede deposits.
Dr Guthrie said this would reduce the project’s regional footprint and environmental impacts by avoiding duplication of operations and infrastructure across multiple deposits.
