Aura Energy Limited (ASX:AEE, AIM:AURA) is pleased to announce the Mauritanian Government’s approval and execution of the mining conventions providing tenure security and fiscal certainty for an initial 30-year period, and the Shareholder’s Agreement with ANARPAM in relation to the Tiris Project in Mauritania.
KEY POINTS:
- Mining Conventions signed between the Government of Mauritania and Aura
- A key milestone to support financing the development of the Tiris Project
- Mining conventions provide 30 years of financial stability for tax, royalties, and customs
- Shareholders’ Agreement with Agence Nationale de Recherches Géologiques et du Patrimoine Minier (“ANARPAM”).
Aura Chairman Phil Mitchell commented: “What we see the is potential of the Tiris region in the uranium world. With the formalisation of our Mining Convention and our partnership with ANARPAM, we are keen to work with the Government of Mauritania to develop the Tiris resource. Our increased knowledge and our belief in the quality of the resource gained from the drilling program and the expansion studies, to be released imminently, we believe will allow us to develop a world- class uranium operation.”
Minister of Petroleum, Mines and Energy Excellency Abdessalam Ould Mohamed Salah, stated:
“The Islamic Republic of Mauritania under President Ghazouani’s leadership recognises the importance of the mineral wealth of our country and how projects like this provide revenues for the State, employment, training, and technology that benefits all Mauritanians. This and other important project developments will make Mauritania a significant global energy supplier.
“The agreement between Mauritania and Aura Energy for the development of this significant uranium project is part of the government’s strategy in the joint development of mining and energy projects in the region in oil, gas, uranium or other recoverable mineral substances.”
Director General Mohamed Yahya Hammoudy stated:
“The signing of the agreements is the first step for Mauritania to develop its first uranium mining project in North Africa. The signing of the Mining Conventions pact between the Government of Mauritania and Aura Energy to enable the development of Mauritania's major uranium project "Uranium de Tiris" through a partnership of cooperation and collaboration.”
Click here for the full ASX Release
This article includes content from Aura Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Figure 1. Location Oasis project
Figure 2. Simplified Regional Geology