French nuclear firm Orano has revealed that Nigerien authorities have seized operational management of the Somair uranium mine, regardless of Orano’s 63% majority stake. The transfer is the newest act of aggression by Niger’s military-led authorities, which seized energy in a 2023 coup, intensifying tensions with overseas buyers within the West African nation. Niger, which contributes 4% of worldwide uranium output, suspended exports final yr, prompting Orano to halt manufacturing shortly afterward. The corporate stated a latest board decision to droop manufacturing expenditures to protect funds for salaries was ignored by the federal government, worsening Somair’s monetary state of affairs. Orano has vowed to defend its rights via applicable channels. Niger had beforehand revoked mining permits from Orano and Canada’s GoviEx Uranium, reflecting an unsure enterprise local weather. Regardless of the disruptions, Orano is offsetting uranium provide losses from Niger, which accounted for 15% of its international manufacturing, with elevated output from Canada and Kazakhstan.
SOURCE: REUTERS