Uranium developer Toro Energy has begun the government assessment and approval process aimed to mine additional deposits at its Wiluna Uranium project in Western Australia.

The company received the required approvals from the Western Australian and Federal Governments for the establishment of a processing facility at Centipede as well as to begin mining at Wiluna’s Centipede and the Lake Way deposits.

The $315m Wiluna Uranium project covers an area of 1,500h and is located 30km away from the town of Wiluna in Western Australia.

Toro managing director Dr Vanessa Guthrie said that the company has submitted proposals to both governments for mining of Wiluna’s Millipede deposit immediately to the south-west of Centipede, and the recently acquired Lake Maitland deposit.

"We are pleased to continue to progress the Wiluna project by referring for assessment, the Millipede and Lake Maitland deposits," Guthrie said.

"Toro’s over-arching Wiluna strategy is to use one central processing plant adjacent to the Centipede deposit to reduce the regional footprint and environmental impacts by avoiding a duplication of operations and infrastructure."

"Accordingly, Toro is hopeful that the environmental assessment process for Millipede and Lake Maitland can be completed by mid-2016."

Toro believes that the Wiluna project will be one of the few uranium mining projects in the world that can bring new production to global markets at a time when uranium prices are set to rise in the second half of the decade.

The project is also said to have attracted interest from various potential joint venture partners for investments and offtake arrangements.