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Mining
Aura Energy is laying the groundwork to expedite the start of uranium production at its Tiris project in Mauritania, after submitting key documents to progress the development.
The submission of draft key management plans for the authorisation of uranium production and export for Tiris has been made with the National Authority for Radioprotection, Safety and Nuclear Security (ARSN) in the north African country.
They form the core information assessed to authorise production and the export of uranium oxide concentrate from Mauritania, where Aura is looking to start a new industry with its 85% owned Tiris Uranium Project.
It comes with spot uranium prices lifting above US$50/lb in recent weeks as demand for yellowcake and attitudes towards the use of nuclear energy in future low carbon electricity grid continue to gain rapid momentum globally.
Aura’s (ASX:AEE) acting CEO Dr Will Goodall has met with ARSN president Ishagh Mohamed Moussa in Nouakchott in Mauritania, to start engagement on implementing the key management plans and collaborate to engage stakeholders on the benefits of uranium production to the country.
“The Aura team recently met with Mr Ishagh Mohamed Moussa, President of ARSN in Nouakchott to discuss the requirements and opportunities to educate stakeholders on the benefits of uranium production for Mauritania,” he said.
“Aura looks forward to collaborating closely with Mr Moussa and his team through the development of Tiris, as we continue to advance to uranium production.”
Aura is targeting a final investment decision at Tiris in the first quarter of 2023, making it one of the most advanced pre-development uranium projects in the world.
With a mineral resource of 56.9Mlb of uranium oxide and 18.4M of vanadium pentoxide, including reserves of 8.1Mlb U3O8 at 336ppm, the aim is to ramp up production early in the mine life to 3-5Mlb of uranium production per annum, which is expected to be supported by the current Resource Upgrade Program.
That would make Tiris a significant contributor to the African nation’s economy and society.
Dr Goodall said the company would work with ARSN to ensure Tiris is a world class example of safety and environmental management.
“The establishment of ARSN is a positive outcome of the planning by the Mauritanian Government in preparation for becoming a uranium producing and exporting country,” he said.
“The ARSN authorisations framework provides a clear pathway for uranium production and export and, through the Government’s close collaboration with the IAEA, we are confident the process will be smooth and transparent.”
Mauritania is a signatory to the nuclear non-proliferation treaty, established laws for the production, transport and export of uranium in 2010, and is a member state of the International Atomic Energy Agency.
“As Mauritania is a member state of the IAEA and signatory to key international conventions and treaties, we have identified a clear pathway to the grant of an export permit for uranium oxide concentrate,” Dr Goodall said.
“The framework to secure authorisations is clear and through close collaboration with ARSN we look forward to the development of Tiris.”
This article was developed in collaboration with Aura Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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