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Greens call for watchdog to investigate Vimy move

The Ambassador East Test Pit at Vimy Resources' Mulga Rock Project.
The Ambassador East Test Pit at Vimy Resources’ Mulga Rock Project.

Australian Greens WA Senator Scott Ludlam has asked the corporate watchdog to investigate whether uranium hopeful Vimy Resources misled investors over the Mulga Rock project.

The Andrew Forrest-backed Vimy told the Australian Securities Exchange in two announcements last week it had obtained Federal environmental approval and begun work at the site north-east of Kalgoorlie.

Senator Ludlam said Vimy still needed permits and licences from several Government agencies to mine uranium and therefore did not have final project approval.

“Vimy has also failed to tell their shareholders that with the election of a WA Labor Government opposed to uranium mining, the Mulga Rock project may not be able to proceed at all,” he said.

The company last week said Federal Environment Minister Josh Frydenberg’s approval had cleared the way for work to begin. It said a final investment decision had not been made.

“We stand by the accuracy of our ASX releases,” Vimy executive director Julian Trapp said yesterday.

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