JOHANNESBURG (miningweekly.com) – Dual-listed Aura Energy has submitted a mining lease application to the government of Mauritania for the development of its Tiris uranium project.
Marking it a key milestone, the company said the application followed a broad programme of evaluation and study over the past eight months, which included an environmental- and social-impact assessment (ESIA), covering all aspect of the project, including community consultation in the regions close to the project location.
“This milestone will now 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,” Aura Energy chairperson Peter Reeve highlighted.
The mining lease application will now be reviewed by various entities within the Mauritanian Mines and Environment departments over a period of six months.
The application documentation includes the final agreed term sheet for the Tiris shareholders agreement, which covers the 10% government interest in the project that was successfully negotiated over the past three weeks.
The completion of a definitive feasibility study (DFS) was targeted for the end of the year; however, Aura envisages some elements of the DFS will still be outstanding at this point, with full completion expected in early 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.