Australian mining company Aura Energy has received authorization to produce uranium oxide concentrate from its Tiris project in Mauritania.
Mauritania’s National Authority for Radiation Protection, Safety, and Nuclear Security (ARSN) has granted the final permit needed to commence construction and operation of the Tiris project. Aura Energy is currently raising funds for the construction of the mine, with an initial investment estimated at $230 million.
“The final approval and the formation of the inter ministerial committee are significant milestones as we quickly move towards the final investment decision by the first quarter of 2025 and the short-term development of a uranium mine at Tiris,” Andrew Grove, CEO of Aura Energy, said.
Alongside the authorization, the government has established an inter-ministerial committee, led by ARSN, to facilitate and support the development of Tiris and the uranium mining industry in the country. Mauritanian may hold up to a 20% interest in the project and receive a 3.5% royalty on the production value.
With an annual production of 1000 tons over 17 years, Tiris is set to become Mauritania’s first uranium mine by 2026, positioning the country as the second-largest uranium producer in West Africa.
