Summary:

On 9 June 2025, Mauritania’s Prime Minister, Mokhtar Ould Ajay, held a meeting with the non-executive chairman of Australia’s Aura Energy, Philip Mitchell to discuss the Tiris uranium project.

The Prime Minister reaffirmed the government’s support for the Tiris uranium project, urging to speed up its development and highlighting its strategic importance as the country’s first uranium mine. The project, located in the northern Tiris Zemmour region, is seen as a key driver of economic diversification and long-term industrial development.

In response, Australian mining company Aura Energy, the project’s operator, announced a significant board reshuffle on 10 June 2025, by appointing Philip Mitchell as Executive Chairman.

The company also revealed it is seeking to raise $230 million to reach a Final Investment Decision (FID) by the end of 2025, with an eye toward increasing production capacity to 2 million pounds of uranium per year, and Mauritanian government may hold up to a 20 percent stake in the project.

The mine is fully permitted, with operations expected to begin in 2027.

Outlook: 

With global demand for uranium rising alongside growing interest in nuclear energy, the success of the Tiris project could become a cornerstone of Mauritania’s ambition to emerge as a key player in the global uranium supply chain. 

The government’s proactive posture and Aura Energy’s restructured leadership could create a strong alignment and commitment to advancing the Tiris project with urgency and strategic focus. 

Mauritania’s drive to advance the Tiris project reflects its vision to become a regional leader in the uranium industry. The project is also seen as a catalyst for attracting foreign investment, boosting exports, and creating local jobs, factors that could significantly enhance the country’s economic profile and support its ambition to emerge as a regional industrial hub. 

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