PERTH (miningweekly.com) – The Tiris uranium project, in Mauritania, is still expected to start production in 2020, ASX-listed Aura Energy said, with the company currently progressing a definitive feasibility study (DFS).
A 2014 scoping study estimated that the project would require a capital investment of $45-million, based on a one-million-tonne-a-year operation, delivering 11-million pounds of uranium over a mine life of 15 years.
The DFS is slated for completion in the first quarter of 2019, Aura said.
The company has now started both offtake and financing discussions.
“The progression of the Tirus uranium project DFS is pleasing, following an extended hiatus during the period of lower uranium prices,” said executive chairperson Peter Reeve.
“In the current environment of rising prices, the Tiris project with its low capital and operating costs remains currently as one of the world’s most compelling uranium development projects.”