Australian company Aura plans to make final investment decision on Mauritania's Tiris uranium mine by year-end

Recently, Australian-listed company Aura Energy announced that its newly released feasibility study has confirmed the technical and economic viability of the Tiris uranium project in Mauritania, and the company plans to make a final investment decision (FID) by the end of 2026. The project is expected to require US$349.8 million in development capital, with annual uranium production of 1.8 million pounds after commissioning and a mine life of 26 years.

It is understood that the Tiris uranium project is Mauritania's first uranium mine, with major approval procedures already completed, and the pilot plant at Bir Moghrein will begin processing ore in November to verify the process flow. Mauritania's Minister of Mines and Industry Eddy Ould Zeine stated that the government firmly supports the project's development, the state will hold a 15% interest and derive tax and employment benefits from it, regarding it as a cornerstone of the emerging national industry.

In contrast to Aura's active advancement, another Australian uranium developer, Deep Yellow, stated that although construction work has begun at its flagship Tumas uranium project in Namibia, due to challenging current stock market conditions and financing environment, the company has decided to postpone its final investment decision to after the fourth quarter of 2026.

With global uranium market demand accelerating, Aura Energy is working closely with multiple strategic investors, aiming to finalize its financing structure and select partners by the end of 2026, in order to open up a new uranium-producing region.