Final permit issued for Mauritanian uranium mine

Monday, 15 July 2024

The authorisation to develop, mine and produce uranium oxide concentrate was issued by the National Authority for Radiation Protection, Safety and Nuclear Security (ARSN) on 12 July.

Aura Energy said that receiving the permit "is a very significant step towards achieving a Final Investment Decision (FID) by Q1 2025".

It added that approvals for the export of uranium will be granted as part of a routine export monitoring programme and in accordance with international safeguards for monitoring the movement of radioactive materials. Aura Energy noted there are no limits on the volumes of future uranium production, which will allow significant flexibility for the operation including the potential for future expansion of the annual production rate beyond 2 million pounds U3O8 (769 tU). Production rates are currently being investigated on the back of the significant 55% increase in mineral resources to 91.3 million pounds U3O8 announced in mid-June.

Aura Energy said it has contracted "a major international company specialising in the transportation of radioactive materials" for the future seaborne transportation of uranium oxide concentrate produced from Tiris to international converters.

In addition, the Mauritanian government, by order of Prime Minister Mohamed Ould Bilal, has formed an inter-ministerial committee to facilitate and support the development of Tiris and the uranium mining industry in Mauritania. The committee will be headed by ARSN and will be a central point of contact for all ministries to facilitate and support the rapid development of the future Tiris uranium mine.

"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," said Aura Managing Director and CEO, Andrew Grove. "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."

Tiris, located in the Sahara Desert in northeast Mauritania, was first discovered by Aura Energy in 2008, and is the first major calcrete uranium discovery in the region. The mineralisation largely lies within 3 to 5 metres of the surface, and will be mined using conventional open pit methods.

A Front-End Engineering and Design study published in February this year demonstrated Tiris to be a near-term low-cost 2 million pounds U3O8 per year near-term uranium mine with a 17-year mine life with excellent economics and optionality to expand to accommodate future resource growth.