(2 Minutes Read)
Friction seems to be escalating between Niger’s junta and foreign investors in the mining sector, particularly from France. The latest on the news is French nuclear fuels company Orano. It has announced that authorities in Niger have taken control of its Somair uranium mine. The military-led government has been increasing pressure on foreign investors in the country.
Orano holds a 63% stake in the mine and the remaining shares are with the Niger government. Decisions made at Somair’s board meetings are no longer being enforced, complains the French company.
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Niger accounted for about 15% of Orano’s uranium supplies when its mines were operating at full capacity. In June this year, Niger revoked Orano’s mining permit for its Imouraren subsidiary, thereby interfering with the normal functioning of the company. Somair has been taking up the issues but to no avail. Operations at the mine were suspended last year after Niger authorities halted exports.
