Vimy – WA Government department confirms Mulga Rock substantial commencement

Vimy Resources Limited (ASX: VMY, OTCQB: VMRSF) is pleased to announce that the WA Department of Water and Environment Regulation (DWER) has confirmed that the company has achieved “substantial commencement” at its Mulga Rock uranium project in Western Australia’s Goldfields.

Implementation of Mulga Rock was approved under Ministerial Statement No. 1046 (MS 1046) on 16 December 2016. Under conditions 3-1 and 3-2 of MS 1046, Vimy was required to substantially commence implementation of Mulga Rock within five years and provide notification and supporting evidence, which it did on 26 November 2021.

Vimy has continued to make further progress on development activities and has provided evidence of continuing development to DWER.

“Over the past few months Vimy has achieved several approvals and confirmations for the development of the Mulga Rock uranium project from WA Government departments including DWER and the Department of Mines, Industry Resources and Safety,” Vimy executive director and CEO Steven Michael said.

“This confirmation is a testament to careful planning and execution and is consistent with the Mulga Rock project implementation plan. Vimy can now advance Mulga Rock to the next stage of development and will continue to work closely with State and Federal departments to secure the remaining approvals required to bring the project into production by 2025 – when uranium market commentators are forecasting the commencement of a prolonged supply deficit.

“Bringing Mulga Rock into production will materially mitigate global GHG emissions and enhance Western Australia’s ESG credentials. Uranium production from Mulga Rock will power eight nuclear power stations, which is equivalent to 70% of Western Australia’s greenhouse gas emissions.”