Aura Energy has received the final permit required for the construction and operation of the Tiris Uranium Project in Mauritania, West Africa.
The permit, issued by the National Authority for Radiation Protection, Safety and Nuclear Security (ARSN) on 12 July 2024, allows the company to develop, mine and produce UOC.
This authorisation marks a pivotal step towards a final investment decision (FID) expected by the first quarter of 2025.
The Mauritanian Government has shown its support for the project by forming an inter-ministerial committee led by Prime Minister Mohamed Ould Bilal to facilitate and expedite the development of the Tiris Uranium Mine.
This committee, headed by the ARSN, will act as a central point of contact for all ministries involved in the project.
The export of uranium from Tiris will be managed through a routine export monitoring programme, adhering to international safeguards for the movement of radioactive materials.
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By GlobalData
Notably, there are no restrictions on the volumes of uranium production, offering the operation considerable flexibility and the potential for future expansion beyond the current production rate of two million pounds (mlb) per annum of triuranium octoxide (U3O8).
Following a 55% increase in mineral resources to 91.3mlbs of U3O8, announced last month, the company is now exploring the possibility of increasing production rates.
Aura has also engaged a major international company specialising in the transportation of radioactive materials to handle the seaborne shipment of UOC from Tiris to global converters.
Aura managing director and CEO Andrew Grove said: “We are very pleased with the very high levels of support and confidence shown by the Mauritian Government towards Aura and the development of a long-term, globally significant uranium mining industry in Mauritania, commencing with Tiris.
“The final approval and formation of the inter-ministerial committee are important steps as we rapidly progress towards FID and developing a uranium mine at Tiris in the near term.
“There are also numerous activities under way that should materially enhance Tiris’ Project FEED economics of NPV₈ US$388M and IRR 36% after tax. We look forward to keeping shareholders and stakeholders informed regarding Aura’s and Tiris’ rapid progress.”
