New NT uranium mine by 2013
Emma Haskin
ABC NT Local News
There could be a uranium mine in Central Australia in the next four years.
That's according to exploration company, Toro Energy who are looking into the economics of the site.
The company's Greg Hall says the global demand for uranium hasn't slowed down, even in these tough financial times.
"So we're undertaking the scoping study to have a look at the economics and based on that scoping study we'll continue to put shareholders money into the project.
"We've already spent around $4.5 to $5 million on Napperby. So, we need to do another re-check of the economics before we recommit to more funds."
Mr Hall is confident they've got enough cash-flow for the next two years but if they want to advance either the Wiluna project in Western Australia or the Napperby project they will need to look for more funds.
"We flagged that at our annual general meeting that we've already started that process."
So which site is potentially more viable?
"It's hard to say at the moment, Wiluna's a little larger, it's got some good infrastructure around it but again it's a low grade calcrete. Napperby's a bit smaller, it's got good infrastructure but it's a low grade calcrete so it really depends on smaller issues like water quality and other issues like that.
"That's one of the reasons why we're doing the scoping study. So, we think they're similar and in time frame they're similar and first production wouldn't be before 2012 or 2013."
Mr Hall says there's a global demand for uranium.
"The market situation for uranium is remarkably stable. The expansion in global nuclear power is still ongoing and still increasing.
"At the start of 2008 there were 33 reactors under construction around the world. Now there's 43 and there's another three that have been announced in China this month."
Mr Hall is confident about the Napperby site.
"If the scoping study comes out positive and we do a further major drilling program and drill the deposit out by the end of 2009, then we could be looking at a major feasibility study here in 2010 with production towards 2013."
That's according to exploration company, Toro Energy who are looking into the economics of the site.
The company's Greg Hall says the global demand for uranium hasn't slowed down, even in these tough financial times.
"So we're undertaking the scoping study to have a look at the economics and based on that scoping study we'll continue to put shareholders money into the project.
"We've already spent around $4.5 to $5 million on Napperby. So, we need to do another re-check of the economics before we recommit to more funds."
Mr Hall is confident they've got enough cash-flow for the next two years but if they want to advance either the Wiluna project in Western Australia or the Napperby project they will need to look for more funds.
"We flagged that at our annual general meeting that we've already started that process."
So which site is potentially more viable?
"It's hard to say at the moment, Wiluna's a little larger, it's got some good infrastructure around it but again it's a low grade calcrete. Napperby's a bit smaller, it's got good infrastructure but it's a low grade calcrete so it really depends on smaller issues like water quality and other issues like that.
"That's one of the reasons why we're doing the scoping study. So, we think they're similar and in time frame they're similar and first production wouldn't be before 2012 or 2013."
Mr Hall says there's a global demand for uranium.
"The market situation for uranium is remarkably stable. The expansion in global nuclear power is still ongoing and still increasing.
"At the start of 2008 there were 33 reactors under construction around the world. Now there's 43 and there's another three that have been announced in China this month."
Mr Hall is confident about the Napperby site.
"If the scoping study comes out positive and we do a further major drilling program and drill the deposit out by the end of 2009, then we could be looking at a major feasibility study here in 2010 with production towards 2013."