Aura Energy has received the crucial final permit needed for the construction and operation of the Tiris Uranium Project in Mauritania, West Africa. The National Authority for Radiation Protection, Safety and Nuclear Security (ARSN) granted this permit on 12 July 2024, authorizing the company to develop, mine, and produce uranium ore concentrate (UOC).
Government Support and Inter-Ministerial Committee Formation
The Mauritanian Government has demonstrated strong support for the project by forming an inter-ministerial committee led by Prime Minister Mohamed Ould Bilal. This committee, overseen by ARSN, will serve as the main contact point for all ministries involved, facilitating and expediting the project’s development.
Uranium Export and Production Flexibility
Uranium exports from Tiris will be managed through a standard export monitoring program, adhering to international safeguards. There are no restrictions on the volumes of uranium production, allowing flexibility and potential future expansion beyond the current production rate of two million pounds (mlb) per annum of triuranium octoxide (U3O8).
Increased Mineral Resources and Production Potential
Following a 55% increase in mineral resources to 91.3mlbs of U3O8 announced last month, Aura Energy is exploring the possibility of increasing production rates. The company has also partnered with a major international firm specializing in the transportation of radioactive materials to manage the seaborne shipment of UOC from Tiris to global converters.
CEO’s Statement on Progress and Future Plans
Aura’s managing director and CEO, Andrew Grove, expressed satisfaction with the Mauritanian Government’s support, stating, “We are very pleased with the very high levels of support and confidence shown by the Mauritanian 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.”
Grove also highlighted ongoing activities aimed at enhancing the Tiris Project’s FEED economics, which currently show an NPV₈ of US$388M and an IRR of 36% after tax. “We look forward to keeping shareholders and stakeholders informed regarding Aura’s and Tiris’ rapid progress,” he added.
