Uranium explorer Toro Energy Limited
(ASX:TOE) has been given the green light by Western Australia state authorities to mine uranium as part of its $300 million Wiluna project.
Toro will be the first company in the region to mine urnanium. In 2008, the liberal state government lifted its ban for uranium mining.
Toro will need to secure a joint venture partner for the project. The news saw Toro’s shares jump 12 per cent yesterday, after it emerged from a trading halt.
In the 2012 financial year, Toro Energy reported a net loss of $8.7 million.