Aura Energy - Tiris uranium project
Aura Energy - Tiris uranium project
Dual-listed uranium junior Aura Energy has submitted its mining lease application for its Tiris uranium project.

Mauritania – This follows a broad programme of evaluation and study over the past eight month.

As part of the application Aura Energy completed an exhaustive environmental and social impact assessment (ESIA) covering all aspects of the project including community consultation in the regions close to the project location.

“This milestone for Aura’s Tiris uranium project will bring into clear focus that Tiris is now in that next important group of uranium projects that, subject to financing, will be developed. Due to its low capital cost, the implementation of Tiris is very achievable to meet the next expected cycle of rising uranium prices,” says Aura Energy executive chairman Peter Reeve.

The mining lease application will now be reviewed by various departments within the Mauritanian Mines Department and Environment Department over a period of six months.

The application documentation included the final agreed term sheet for the Tiris shareholders agreement, which covers the 10% government interest in the project and was successfully negotiated over the past three weeks.

The completion of the definitive feasibility study (DFS) for Tiris is targeted for the end of 2017, however as previously advised, Aura Energy envisages some elements of the DFS will still be outstanding at this point with full completion expected in early in 2018. This is not expected to impact project implementation and financing, as a number of parallel activities will be conducted near the end of the Tiris DFS.

The critical areas remaining for the Tiris DFS are:

  • The Tiris project water study
  • Metallurgical test work
  • Tiris mineral resource upgrade
  • Mining study
  • Detailed engineering included package cost estimates
  • Infrastructure study

Aura Energy continues to plan for all requirements for the implementation of the Tiris uranium project during 2018 including construction, potential product off-take and financing review.

The various departments within the Mauritanian government, including the Mines and Environment departments remain very supportive of Aura Energy’s project initiative and are activity assisting in the projects implementation.

Feature image credit: Aura Energy