The Australian Uranium Association (AUA) is hopeful of potential investments and progress for the sector in the state of Western Australia in wake of the just concluded regional elections.

Colin Barnett, re-elected as the Premier of Western Australia, had earlier overturned a ban on uranium mining in the state and unveiled reforms to better regulate the industry.

"The work undertaken in this area over the past four years places the state in a strong position to be ready for WA’s first uranium mine. The uranium industry looks forward to working with the government to ensure the sector is able to grow," the association said in a statement.

Australian Uranium Association CEO Michael Angwin remarked, "The certainty that the election outcome has delivered means that uranium companies can now get on with the business of developing their projects."

AUA is hopeful that bi-partisan for uranium is required to further develop the sector in Western Australia.