France’s Orano claims that 1,500 tons of uranium have built up at the facility in Niger
The French nuclear company Orano (ORAN.PA), which just opened a new tab, stated that 1,500 metric tons of uranium are stored at its former SOMAIR mine in northern Niger. If the material is taken or sold without permission, the company will demand compensation and face criminal charges.
According to a mine source, “potential buyers include Iranians, Russians, and Turkey,” although Niger has not yet sold any uranium.
When Niger’s military government shut down SOMAIR’s operations before attempting to nationalize company, Orano started arbitration at the World Bank’s International Center for the Settlement of International Disputes in January.
International Court Prohibits Transfers of Niger Uranium
15% of Orano’s uranium supply came from Niger, the seventh-largest supplier of the nuclear fuel and cancer treatment material in the world while its mines were operating full-time.
More control over resources is being asserted by military-led governments in Mali, Burkina Faso, and Guinea, which is reflected in Niger’s seizure of Orano’s 63.4% ownership.
The sale or transfer of uranium that Orano claimed had been mined prior to the military government’s suspension of activities was ordered to stop by a World Bank tribunal on September 23.
Orano responded to Reuters’ inquiries via email, saying the business has no information regarding further production at the mine.
“To the best of our knowledge, the uranium is still stored at the SOMAIR site,” it stated.
At the current spot price of $82 per pound for uranium, Orano’s stockpile at the Somair mine is valued at approximately $270 million. Prices are still below a peak of $106 reached in February 2024, despite a 30% increase since mid-March.
Orano stated that Niger’s emphasis is on the arbitration and refuses to comment on potential purchasers contacting the country.
A request for response from Niger’s administration was not immediately answered.
NIGER IMPROVES URANIUM PRODUCTION
The mine stores roughly 1,570 tons of uranium, the SOMAIR source told Reuters.
The state-owned SOPAMIN (Société du patrimoine des mines du Niger) is now in charge of overseeing production, they added.
“To my knowledge, there have been no official sales,” the person stated, requesting anonymity because the matter is delicate. “There is a lot of demand for purchases.”
Over 70,000 tons of uranium have been produced in the Somair mine near Arlit since the 1970s.
The military administration has strengthened control over Niger’s coal, oil, and gold after taking over in a coup in July 2023.
Speaking at the U.N. General Assembly, Prime Minister Ali Lamine Zeine accused foreign companies of decades of exploitation, claiming that uranium had enriched France while bringing “misery, pollution, rebellion, corruption, and desolation” to Nigeriens.
