Toro Energy (ASX:TOE) hopes that Australia will become a world leader in uranium production within the next decade. The mining company is developing uranium projects in South Australia and in Wiluna, Western Australia.
Managing Director of Toro Energy Greg Hall said that as of now Kazakhstan produces 18,000 tonnes of uranium and is the top uranium producer globally, but by 2020 Australia could produce 30,000 tonnes of uranium annually.
Mr Hall was addressing the annual general meeting of 2010 for Torro Energy Ltd in Adelaide. He said that the demand fundamentals on a global scale for uranium matched against the delay in long-term reliable supply, are emerging as undeniable worldwide factors in energy hungry markets struggling to address real community and political expectations to balance the future cost of power with more responsible management of climate change expectations.
He also asked anti nuclear and anti uranium groups to embrace uranium mining as a sustainable and safe industry which has proved itself over 25 to 30 years of operation in Australia and overseas. However the WA Conservation Council feels that uranium mining in WA is still a long way from becoming a reality.