Vimy bid set to beat ban on uranium
Andrew Forrest-backed Vimy Resources is hoping an announcement about its Mulga Rock project lodged with the Australian Securities Exchange 24 hours before the recent State election will bolster the chances of the uranium play going ahead despite the opposition of the new Labor State Government.
Incoming premier Mark McGowan has said his Government will not permit new uranium mines but will allow existing projects if “all necessary approvals are in place for them to operate”.
As momentum for a Labor win grew the day before the election, Vimy announced it had “commenced work on the Mulga Rock project”.
The note did not detail what work had started and contained the admission that a final investment decision had not been made.
The statement noted that the “next phase of work will involved some initial construction activity associated with both infrastructure facilities and mining and will expedite development of the project once the final investment decision is made and full-scale construction starts”.