Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesStocksEarnInstitutionAI & More
Niger awards former Orano-operated uranium mine to state company

Niger awards former Orano-operated uranium mine to state company

Mining.comMining.com2026/08/24 13:48

Niger granted a large-scale uranium-mining permit previously held by French nuclear company Orano SA to a state-controlled entity, cementing the military junta’s takeover of the Somaïr mine.

The permit for the In Azaoua area was granted to Tsumco SA, which Niger created after nationalizing Somaïr, minutes from a Nigerien cabinet meeting on Friday show. Orano previously held 63% of Somaïr, which operated the mine in partnership with Sopamin, Niger’s state mining company.

Orano didn’t respond to requests for comment outside normal business hours.

The decision underscores Niger’s increasingly assertive approach to its uranium industry since soldiers seized power in the West African nation three year ago. It allows mining of the nuclear fuel to continue under the new Nigerien-controlled structure and marks another step in the military government’s push to increase state control of the industry.

Niger seized control of Somaïr in June 2025, after accusing Orano of extracting more uranium than an its agreement with the state allowed. Orano has opposed the nationalizeation of the mine and sued Niger in multiple commercial courts following the takeover.

In a separate decision on Friday, Niger reawarded the Madaouela I uranium permit to Madaouela Mining Co., with the company agreeing to pay the state an initial fixed fee of $10 million.

The permit had reverted to the state after Niger revoked Canadian explorer GoviEx Uranium’s licence in July 2024. GoviEx subsequently launched arbitration proceedings over the cancellation.

(By Katarina Höije)

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

Investors reportedly offering Anthropic allocation shares at premiums of up to 5% ahead of its IPO

According to reports, the trading firm JonesTrading is marketing up to $500 million worth of stock shares on behalf of some investors, at a 3% to 5% premium over the IPO issue price. This indicates that investors are already transferring their anticipated IPO allotted shares before the IPO is officially issued.

华尔街见闻•2026/11/10 23:03

Nvidia continues to plummet, losing $430 billion in market value over two days, with Microsoft temporarily reclaiming the world's second place.

On Tuesday, Nvidia closed down 5.5%, a decline significantly greater than other major tech stocks, making it a key factor dragging down the tech sector's performance. During intraday trading on Tuesday, Microsoft's market capitalization briefly surpassed Nvidia, making it the world's second largest publicly traded company by market value. However, after Anthropic released its office suite, Microsoft's losses widened, causing it to fall behind Nvidia once again.

华尔街见闻•2026/11/10 23:01
Nvidia continues to plummet, losing $430 billion in market value over two days, with Microsoft temporarily reclaiming the world's second place.