There’s a renewed interest in Australian uranium mining this month as Western Australia becomes the new focus for uranium mining development.

Mining approvals were granted in April 2013 for Toro`s Wiluna Uranium Project. The Western Australian based mining company are primed to build the state’s first uranium mine.

The company is confident current forecasts are indicating a 20 per cent increase in nuclear reactors worldwide by 2025, with 85 per cent growth coming from China and India.

“By that 2025 timeline, the emerging economies will account for 62 per cent of operable reactors around the globe.”� a spokesman for the company said.

China to triple its nuclear reactors in 10 years

Current data suggests China will go from 32 to 97 reactors by 2025; India with increase its current 23reactors to 34; with other Asian countries increasing from 71 to 85.

These new reactors, according to Toto Energy, will require Australian uranium, and that Australia has an ‘open for business’ attitude for renewed uranium development and fresh investment in the sluggish sector.

“a uranium shortfall of some 60,000 tonnes”

The company went on to say there could be a uranium shortfall of some 60,000 tonnes of U₃0₈ by 2018.

However, it’s not all smiles and hand clapping, because of the Japanese Fukushima tragedy in 2011. It’s clear that uranium demand has slowed and negative sentiment only compounded the issue, casting a further shadow over the industry.

Uranium prices still in the dark

Australian uranium mining was affected by this downward trend with the commodity price diving below $US29 per pound last in May 2013. Since then we have seen a slight recovery to the spot price of uranium to about US39 this week.

All of this fury coincides with Japan about to flick the switch on its reactors for the first time since the ‘tsunami-induced’ nuclear meltdown. With this renewed activity, predictions are that the market could potentially make ground, with price expectations of $US53 per pound in 2016.

Toro Energy are rolling up their sleeves and taking the bull by the horn; with government approvals in place, now is the time to get stuck in and raise investment capital.

Limited uranium mines operating in Australia

Even greater opportunity is afforded the company as only 3 uranium mines are operating in Australia at this time, they are Ranger in the Northern Territory (ERA/Rio Tinto; Four mile in South Australia (General Atomics) and also in South Australia the BHP Billiton Olympic Dam project.

“one billion dollars in potential export earnings”

The company said the success of the Wiluna project will be fueled by the expanding global uranium market from 6000 tonnes of uranium concentrate in 2013-14 ($620 million) to more than 9000 tonnes before the ends of the decade with a value of some one billion dollars in export earnings.

Wiluna, which has somewhere in the region of 36 million pounds ready to be mined, came out saying it plans on claiming around 10-12 per cent of total export shipments. They are seeking to raise about $315 million for construction of the mine, which has an expected lifespan of some 15 years.

Being an Australian listed company, their current share price is $0.082 at the time of writing this post. With the current predictions, this would be one mining company to watch in terms of jobs growth as well as a potential investment.

More recently, Australian Prime Minister Tony Abbot announced to the world that Australia was indeed ready to kick-start its uranium mining program once again.

Quick facts about Toro Energy

• www.toroenergy.com.au/
• www.asx.com.au/asx/research/company.do#!/TOE
• Vanessa Guthrie is the Managing Director
• The 76.5M lb Wiluna project consists of six deposits
• Contact Toro Energy Limited Phone: 08 9214 2100
• Exploration and investment reports: www.toroenergy.com.au/corporate/investors/
• Toro Energy also have exploration and mining projects in Africa and Canada
• Current market capitalisation of approx $150 million
• Cash on hand around $25 million at the end of 2014