Cameco, Toro team up over WA uranium

Toro Energy is set to expand its uranium footprint in Western Australia, entering a joint venture deal with Canadian company Cameco over the Birrindudu project.

Adelaide-based Toro Energy today said it planned to team up with Cameco to explore and develop the project, located in the Tanami region, just inside Western Australia's border with the Northern Territory.

The Birrindudu project is Toro's third uranium project in WA.

Under the heads of agreement, Toro will have to drill at least four test holes within two years and spend a minimum $1 million to acquire a 50.1 per cent stake in Birrindudu.

Toro managing director Greg Hall welcomed the deal and said Birrindudu was an "ideal fit" for the company's exploration assets.