Australian company gets Mauritania approval to extract uranium | Economy

Australian mineral exploitation and extraction company Ora has received final approval from the Mauritanian authorities to exploit the Tiris uranium mine in the north of the country, paving the way for it to make a final investment decision in the first quarter of 2025.

The company explained, in a statement, that the Mauritanian National Authority for Radiation Protection, Safety and Nuclear Security granted it a license to exploit the Tiris uranium mine.

No limit

She pointed out that this approval is an important step in its path, as it allows it to start uranium extraction operations from this mine, without a limit to the size of future production.

She added that the approval opens the door to the possibility of expanding the production rate to more than two million pounds of uranium annually, which enhances the company’s position as a major contributor to the global uranium market.

She explained that the initial exploration operations and technical evaluations showed great potential for the mine, which makes it one of the most promising projects in Africa, noting that it will immediately begin preparing the equipment and infrastructure necessary to start production as soon as possible.

Strategic shift

For its part, the Mauritanian National Authority for Radiation Protection, Safety and Nuclear Security expressed its optimism about the future of this project, stressing that all the steps and procedures necessary to ensure the safety of operations have been verified before granting final approval.

The move represents a strategic shift in Mauritania’s mining industry, as the project is expected to boost state revenues and provide new job opportunities for citizens, in addition to strengthening Mauritania’s position as a major player in the global energy market.