- Toro Energy is a uranium exploration and development company with promising assets in Western Australia.
- The company is led by a management team and board of directors with direct experience in the uranium mining industry.
- The Wiluna Uranium Project has been de-risked and optimised to include vanadium as a by-product.
- The Lake Maitland deposit within the Wiluna Uranium Project has been optimised with a beneficiation process, which was introduced to maximise yield by refining raw ore before it proceeds to the leach phase.
- Scoping study for proposed stand-alone Lake Maitland Uranium-Vanadium operation shows potential for strong financial returns.
- Lake Maitland is subject to a joint venture with two Japanese companies, JAURD and Itochu. The partnership allows these companies to earn interest on the asset after reaching an investment threshold.
- Toro Energy also owns 100 percent of the Dusty Nickel Project, confirmed to contain a 15-kilometre strike of massive nickel sulphides. The asset also includes suspected gold targets to be confirmed with future exploration.
Countries worldwide are working towards decarbonisation and paying more attention to clean energy sources. Russia’s invasion of Ukraine also ignited a global discussion about energy security and fossil fuel reliance, especially in Europe, where Russia has long been the primary oil and gas supplier. As a result, governments are now looking at all viable clean energy sources, including solar, wind and nuclear power. Recently, Japan, Germany, the U.K and the U.S. have revisited their nuclear energy strategies to reduce fossil fuel production and reliance while improving energy security.
The renewed interest in and support for nuclear power has bolstered demand for uranium, an essential mineral for nuclear power reactors. Currently, there are 340 proposed new nuclear reactors globally. Combined with existing reactors, the world will soon require 62,400 tonnes of uranium, which converts to 73,698 tonnes of uranium oxide. It’s projected that global uranium production will need to double by 2040 to keep up with demand.
Australia produces 12 percent of the world’s uranium, behind Canada (13 percent) and Kazakhstan (43 percent). It is also home to the Wiluna Uranium Project, a well-established uranium resource of 62 million pounds of ore located in Western Australia.
The Wiluna Uranium Project is the flagship asset of Toro Energy Limited (ASX:TOE), a uranium exploration and development mining company with projects across Western Australia. Toro’s portfolio also includes assets prospective for nickel, gold and base metals.