• CEO Andrew Grove resigns after less than a year in office.
• Executive Chairman Philip Mitchell takes charge of daily operations.
• Tiris aims to produce 2 million pounds of uranium annually by 2027.

Aura Energy announced on Monday, October 20, the immediate resignation of its Chief Executive Officer, Andrew Grove, who had held the position since January 2024. The company said its Executive Chairman, Philip Mitchell, will assume responsibility for managing daily operations while maintaining his current role.

According to the statement, Mr. Mitchell will retain his functions and oversee the day-to-day operational management, ensuring continuity, particularly regarding ongoing critical workstreams, discussions with the U.S. International Development Finance Corporation, and potential strategic partners.

Scheduled to enter production around 2027, the Tiris uranium project is expected to produce 2 million pounds of uranium per year, according to Aura. The company recently disclosed talks with strategic partners, including a “Western development bank,” to raise $230 million needed to launch construction, though few details have been shared on the progress of these discussions.

Mitchell will now lead this key process as Aura targets a final investment decision by the end of 2025. Achieving this milestone, which would trigger the start of construction, is crucial to keeping Tiris on schedule. The project comes amid projections from the World Nuclear Association that global uranium demand could double by 2040.