Orano at Risk of Losing Niger Uranium Mine Sought by Russia – by Katarina Höije (Bloomberg News – June 15, 2024)


(Bloomberg) — Orano SA could lose the right to mine uranium at one of the largest deposits in the world by June 19 after Niger rejected the French nuclear company’s plan for developing the asset.

The move comes as Russia’s seeks to take over mining assets in the West African country controlled by the French company, Bloomberg reported on June 3. Niger’s Paris-allied president was overthrown in a coup last July, the latest in a string of military takeovers in the region that has seen strongmen spurn ex-colonial power France and forge closer ties with Moscow.

Orano continues to operate a single large uranium mine in Niger but its proposed plan for the development of the Imouraren deposit “doesn’t meet the authorities’ expectations,” Niger’s mining ministry said in a letter seen by Bloomberg. A junta spokesman confirmed the letter dated June 11.

For the rest of this article: https://www.bnnbloomberg.ca/orano-at-risk-of-losing-niger-uranium-mine-sought-by-russia-1.2085640