Aura Energy's feasibility study estimates development costs for its Tiris uranium project in Mauritania at $349.8mn and a post-tax net present value of $500.3mn, assuming uranium sells for $90 per pound, Mining Weekly reported on October 16. The study projects average output of 1.8mn pounds annually over 26 years. Aura is targeting a final investment decision in December, with construction expected to take about two years, the report said.
Analysis: The new capital estimate is about 50% above the $230mn construction budget Aura cited on October 1, according to Agence Ecofin, a difference it has not publicly explained. The company is negotiating $150mn–$170mn in debt financing from the US International Development Finance Corporation (DFC), less than half the projected cost, leaving a substantial requirement for equity or other loans. Tiris has also passed its 24-month permit deadline for starting production, although Aura says it has received no default notice. December's investment decision will be a key test for lenders and contractors.
Source: Mining Weekly (Creamer Media), Mining Weekly, 'BFS for Aura's Tiris uranium project estimates robust returns', Study of October 2026; Mining Weekly (Creamer Media), Mining Weekly, Study of October 2026 and October 2026; Agence Ecofin, Ecofin Agency, 'Aura Energy appoints key executives ahead of Tiris uranium construction', Statement of 30 September 2026; Agence Ecofin, Ecofin Agency, 'Uranium delays at Africa's planned mines postpone expected government revenues', October 2026