Latest news with #Orano
Bloomberg
42 minutes ago
- Business
- Bloomberg
Niger Junta Seizes French Nuclear Giant Orano's Uranium Mine
Niger's military government took control of Orano SA 's uranium mine, escalating a standoff with the French nuclear-power company. The junta took action after accusing Orano of violating its shareholder agreement by extracting more uranium than its 63.4% stake in a local affiliate allows, according to cabinet meeting minutes published in the capital, Niamey, on Thursday. It also criticized the company for halting operations, repatriating French staff and signaling that it may sell off its assets.
Yahoo
3 hours ago
- Business
- Yahoo
Niger to nationalise Somair uranium venture operated by France's Orano
NIAMEY (Reuters) -Niger's government announced plans to nationalise the Somair uranium joint venture operated by French nuclear fuels company Orano, according to a statement read out on national television in the West African nation on Thursday. The decision is an escalation of a dispute between the Niger government and the French company, following a deterioration of relations between France and Niger after a military coup in July 2023. The statement cited a series of grievances including the expiration of the latest mining agreement in December 2023. "Faced with this irresponsible, illegal, and unfair behaviour by Orano, a company owned by the French state — a state openly hostile toward Niger since July 26, 2023 ... the government of Niger has decided, in full sovereignty, to nationalise Somair," the statement said. A spokesperson for Orano declined to comment. Orano holds a 63% stake in Somair, while Niger's state-owned Sopamin owns the remainder, but the French operator has been shut out since the military-led government seized control of the uranium mine. Orano, which has been pursuing arbitration against Niger and has filed lawsuits in the country against the state's actions, has been warning of government interference at Somair, which it said was damaging the mine's financial situation. According to a Financial Times report in May, the company was also exploring the potential sale of its stake in the uranium venture.
DW
9 hours ago
- Business
- DW
Niger to nationalize French share in uranium company Somair – DW – 06/20/2025
Niger's militia junta has stated a list of grievances with the French company Orano, which owns a controlling stake in one of its largest uranium mines. Niger's ruling junta militia announced plans to nationalize Somair — a unit of the French uranium company Orano, on Thursday, escalating tensions between the two nations. "Faced with the irresponsible, illegal and disloyal behavior of Orano, a company owned by the French state, a state openly hostile to Niger, Niger has decided, in all sovereignty, to nationalize Somair," the junta said in a statement read on Niger's national television. The decision comes amid a deepening rift between Paris and Niamey after a deterioration in 2023 when the military junta staged a coup to take over Niger. As a result, France had pulled back its troops from the Sahel nation. France grapples with waning influence in West Africa To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Why is Niger nationalizing a French-run venture? Orano — which is itself 90% owned by the French state — holds a 63% stake in Somair. The rest of the uranium venture is controlled by Niger's state-run Sopamin. Orano has operated uranium mines in Niger for decades but was shut out of its operations in three key mines in 2024 following a coup that saw a sharp rise in anti-French sentiment in the former French colony. Niger possesses some of the world's largest uranium deposits. The French company has been pursuing legal means to regain operational control of Somair, claiming the state's actions have been damaging the mine's finances. In May, The Financial Times reported that the company was also exploring options to sell off its stake in the venture. Edited by: Alex Berry
Reuters
14 hours ago
- Business
- Reuters
Niger to nationalize Somair uranium venture operated by France's Orano
NIAMEY, June 19 (Reuters) - Niger's government on Thursday announced plans to nationalize the Somair uranium joint venture operated by French nuclear fuels company Orano, according to a statement read on national television in the West African nation. The statement cited a series of grievances including the expiration of the latest mining agreement in December 2023. "Faced with this irresponsible, illegal, and unfair behaviour by Orano, a company owned by the French state — a state openly hostile toward Niger since July 26, 2023 ... the government of Niger has decided, in full sovereignty, to nationalize Somair," the statement said. The decision is an escalation of a dispute between the government and the French company, following a deterioration of relations between France and Niger after a military coup in July 2023. Orano holds a 63% stake in Somair, while Niger's state-owned Sopamin owns the remainder, but the French operator has been shut out since the military-led government seized control of the uranium mine. Orano, which has been pursuing arbitration against Niger and has filed lawsuits in the country against the state's actions, has been warning of government interference at Somair, which it said was damaging the mine's financial situation. According to a Financial Times report in May, the company was also exploring the potential sale of its stake in the uranium venture.
Yahoo
06-06-2025
- Business
- Yahoo
Orano Opens Project IKE Office in Oak Ridge, Tennessee, to Support Developing its American Uranium Enrichment Facility
New 40-person office in Oak Ridge leads the continuing development of Orano's planned multibillion-dollar uranium enrichment facility on restored Manhattan Project property. OAK RIDGE, Tenn., June 5, 2025 /PRNewswire/ -- Orano USA and more than 100 federal, state, business, and regional leaders recently marked a major milestone for Project IKE, the company's development of America's new multibillion-dollar uranium enrichment facility, with a ceremonial ribbon-cutting opening the company's office in Oak Ridge, Tennessee. Project IKE, the single largest investment in Tennessee's history, will advance America's low carbon energy future by producing enriched uranium to power today's nuclear reactors and next-generation designs, bolstering U.S. energy independence and national security. "Oak Ridge is where history meets the future," said Jean-Luc Palayer, CEO of Orano USA. "Today, we stand on historic ground—where American ingenuity first unlocked the power of the atom. Secretary of Energy Chris Wright has correctly said that Artificial Intelligence is the Manhattan Project of our time. But we only lead in AI if we can power AI. With that in mind and with Project IKE here in Oak Ridge, we step forward on a new mission of equal consequence. We are developing an American enrichment facility that will fuel not just reactors, but the future—powering new technologies that will define the next century." The event included speeches marking the milestone by Tennessee Governor Bill Lee, U.S. Senator Marsha Blackburn, Congressman Chuck Fleischmann, Tennessee Department of Economic and Community Development Commissioner Stuart McWhorter, State Senator Ken Yager, and Oak Ridge Mayor Warren Gooch. The enrichment facility's development is in line with President Trump's recent executive orders regarding nuclear energy, which are intended to revitalize and expand the U.S. nuclear industry, aiming to quadruple nuclear electricity production by 2050. "The announcement of a major global enrichment company opening its office in Oak Ridge, paired with President Trump's strong movement forward in nuclear energy, is about to change the world and change the world for the better," Governor Lee said. "Tennessee will lead this change." Palayer emphasized that applying Orano's 60 years of nuclear expertise in America and its proven centrifuge technology can enable a quicker ramp up for production of advanced nuclear fuels, including high-assay low-enriched uranium (HALEU) and low-enriched uranium (LEU/LEU+). "America needs new nuclear power," said Palayer. "The world needs new nuclear power. And new nuclear power needs Tennessee and Project IKE in Oak Ridge." Located less than 10 miles from Orano's selected Project IKE site near the Oak Ridge Horizon Center Industrial Park, this first group of office employees, including engineers, project managers, and licensing personnel, is in addition to the 300-person workforce expected to operate Orano's uranium enrichment facility. The new Oak Ridge office joins Orano's 15 other sites in the United States including manufacturing facilities in North Carolina, canister operations in Kentucky, nuclear medicine research in Texas, and headquarters in Maryland. Later this year, Orano is celebrating 60 years in the United States as one of the longest operating nuclear energy companies in the nation. For more than 40 years, Orano has reliably produced and supplied American reactors with enriched uranium. Orano's Project IKE is designed to continue this performance from an American facility to provide a reliable, significant, domestic nuclear fuel supply for U.S. advanced reactors and the existing reactor fleet. Orano's planned uranium enrichment center in Oak Ridge is designed as a multi-structure commercial production site covering approximately 750,000 square feet, making it one of the largest in America. Depending on federal funding and customers' support, the facility will produce LEU/LEU+ to fuel existing commercial nuclear energy reactors and, potentially, HALEU to help develop and power advanced reactors. Orano has already taken active steps to support the American market and foster energy independence by launching a 30% uranium enrichment capacity expansion at its operating Georges Besse 2 facility in France. Learn more about Orano's Project IKE and the uranium enrichment facility. About Orano USA: Based in Bethesda, Maryland, with global headquarters in Paris, France, Orano is a leading technology and services provider for the commercial and federal nuclear industries. Orano specializes in uranium mining/conversion/enrichment, advanced reactor services, used nuclear fuel management and recycling, decontaminating and decommissioning radioactive components and facilities, federal site clean-up and closure, and developing nuclear medicines to fight cancer. Media ContactsCurtis RobertsPress Officer(202) Thomas Graham Crosswind Media & Public Relations(512) 537-1414media@ View original content to download multimedia: SOURCE Orano
