Canadian miner Laramide Resources, through its Australian subsidiary Tackle Resources, has received approval from the Queensland Government for a mineral development licence (MDL) for the Westmoreland uranium project.
This approval lays the groundwork for the company to progress with project permitting, feasibility studies and other preparatory activities essential for a future mining lease application.
The approved MDL area encompasses all of Westmoreland’s defined uranium deposits – Redtree, Huarabagoo, Junnagunna and Long Pocket – which were part of an economic analysis in 2016.
The MDL signifies formal recognition of the Westmoreland Project's potential for development.
It was granted after the establishment in November 2022 of an indigenous land use agreement with the Gangalidda & Garawa Native Title Aboriginal Corporation.
Laramide president and CEO Marc Henderson said: “The grant of the MDL is a significant milestone for the Westmoreland Project. It provides regulatory confirmation that the project hosts a defined and economically significant resource capable of supporting long-term development.
"Furthermore, it provides the company with a security of tenure that allows us to continue with advanced mining studies, which in turn maintains our commitment to significant investment in regional Northwest Queensland.
“With the MDL now in hand, Laramide is excited for the opportunity to expedite further evaluation of the asset; we believe this asset can play a material role in providing security of supply for western nuclear utilities as they confront the now widely acknowledged structural supply deficit of uranium that extends well into the 2030s.”
The Queensland Government's stance on uranium mining leases remains a hurdle, with the current policy prohibiting such leases.
However, the recent election of a Liberal National majority government may prompt a policy change, enabling Laramide to proceed with a mining lease application.
In March, Boss Energy announced the acquisition of 23.5 million shares in Laramide Resources.
