The company, which has secured the federal approval for the mine, is currently in discussions with seven potential partners in Japan, China and South Korea.
Toro Energy managing director Vanessa Guthrie said that the company is keen on bringing in a partner to support its operations before deciding on investment by 2013-end, reported Bloomberg.
Guthrie added that it would also offer stake in the mine ranging from 30% to 50% as apart of the agreement.
The company claimed that it is set to commence the exploration from 2015, to leverage the uranium supply deficiency, which is expected to begin in 2016.
Very few uranium projects would start during that time period, revealed Guthrie.
