France’s Orano considers exit from Niger uranium industry

ORANO, the French state-owned nuclear fuel company, is exploring the sale of its uranium assets in Niger following deteriorating relations with the country’s military government, said the Financial Times. This potential withdrawal marks another setback for French influence in West Africa, the paper added.The company operates three mines in Niger through a joint venture with the current Russian-backed regime that took power in a 2023 coup. Orano’s position became untenable after Niger stripped it of rights to one project in June and financial pressures forced work stoppage at another.Since the coup overthrew Niger’s pro-Western government, authorities have reportedly blocked uranium exports and halted joint venture payments, prompting Orano to pursue international arbitration cases. Tensions escalated further when Niger’s intelligence agency raided Orano’s offices, arresting a local director.The sales process is another blow for France, which owns 90% of Orano, in its strategy to maintain influence over its former colonies, said the Financial Times.Russian and Chinese buyers are reportedly interested in the assets while Curzon Uranium has also confirmed its interest. Nick Clarke, founder of the Curzon group of companies, is  pursuing a joint purchase with Middle Eastern investors.While Niger produces only 5% of global uranium, it supplies approximately 20% of France’s natural uranium requirements. Analysts warn of potential supply constraints as countries increasingly embrace nuclear power.This development continues the pattern of former French colonies in the “coup belt” of West Africa including Burkina Faso and Mali, which are pivoting toward Russia while implementing new mining codes that increase government control and revenue shares.The post France’s Orano considers exit from Niger uranium industry appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com