THE BOURSE WHISPERER: Vimy Resources (ASX: VMY) announced approval by the Western Australian Department of Mines Industry Regulation and Safety (DMIRS) for the company’s Mulga Rock Project Management Plan.
The approval is one of three WA Government departmental approvals required by the company to implement the project.
Vimy Resources explained that under section 42(3) of the Mines Safety and Inspection Act 1994 (MSIA), this approval allows for the commencement of mining operations at the Mulga Rock project, subject to the granting of other necessary approvals.
While the company is mobilising field crew to support site works at Mulga Rock, it has also lodged a notification of the appointment of a Registered Manager with DMIRS to supervise those activities, in accordance with section 33 of the MSIA.
“The grant of the first of the three secondary approvals is a significant milestone along the path to developing the Mulga Rock project,” Vimy Resources managing director and CEO Mike Young said in the company’s ASX announcement.
“Vimy has, and will continue to, work cooperatively with the various Government departments to obtain the remaining approvals.
“Diversification and security of supply are front of mind for nuclear utilities as global uranium production shrinks from the middle of this decade.
“Combined with renewed activity in the term uranium market, this approval augurs well for a project Final Investment Decision in the year ahead.”
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