About
Aura Energy Limited (ASX/AIM: AEE) is an Australian uranium development company advancing the Tiris Uranium Project — set to become Mauritania's first uranium mine and one of the most significant new uranium projects in Africa. Located in the Tiris Zemmour region of northeastern Mauritania (approximately 680 km from Zouerate), the Tiris Project hosts a JORC-compliant mineral resource of 91.3 million pounds of U3O8 at 225 ppm grade, updated most recently to reflect a 25-year mine life. The project's open-pit ore is predominantly shallow (average pit depth 4.7 metres), free-dig, with a strip ratio of just 0.8:1, resulting in among the lowest projected mining costs globally. Aura's Enhanced Feasibility Study (EFS) and FEED study confirmed plant capacity of 2 million pounds U3O8 per year, with projected AISC of approximately US$35.70/lb. The Mauritanian government issued the final uranium oxide concentrate production licence in July 2024. Aura secured its first US offtake agreement with a US utility in mid-2025 and is engaged in funding discussions with the US International Development Finance Corporation (DFC). Engineering contractor Wood is completing basic engineering, with first production targeted for 2027. The project is strategically important in the context of rising global nuclear energy demand and Western nations' push to diversify uranium supply chains away from Russia and Kazakhstan.
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