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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
13 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.
Reuters
17-05-2025
- Business
- Reuters
France's Orano explores sale of Niger uranium assets, FT reports
May 17 (Reuters) - French state-owned nuclear fuel company Orano is exploring the sale of its uranium assets in Niger after the breakdown of its relationship with the west African country's military rulers, the Financial Times reported on Saturday, citing multiple people familiar with the matter. The uranium miner said on Tuesday that it had filed a lawsuit with the Niger courts over the "arbitrary arrest, illegal detention and unjust confiscation of property" involving its staff and assets in the country. Orano said it had been unable to contact its mining director in Niger, Ibrahim Courmo, who was taken to the headquarters of the country's external intelligence agency, the General Directorate of External Documentation and Surveillance, sources told Reuters earlier this month. In early December last year Orano said Niger's military-led government, which seized power in a coup in 2023, had taken control of the Somair mine, of which Orano owns about 63%, with the government holding the remaining stake. The company also had a mining permit for its subsidiary Imouraren stripped in June 2024. Orano did not immediately respond to a Reuters request for comment. Orano declined to comment on the sales process to the Financial Times, but in a statement to the paper said that "several parties have expressed their interests for the mining assets of the group in Niger and are at liberty to submit offers if they wish to". Reuters could not immediately confirm the FT report.
Russia Today
07-05-2025
- Business
- Russia Today
Niger seizes equipment from French uranium miner
Niger's security forces have raided the offices of French state-owned miner Orano's local subsidiaries and seized equipment, including mobile phones, Reuters reported on Tuesday, citing sources familiar with the matter. The company's local director, Ibrahim Courmo, was reportedly arrested following the search in the West African nation's capital, Niamey, on Monday. 'On Monday, May 5, it appears that Nigerien law enforcement officers intervened at the headquarters of the Somair, Cominak, and Orano Mining Niger subsidiaries in Niamey, with equipment seized,' the company told Reuters. 'We are very concerned about the situation, as we have not been able to contact the Orano representative in Niger at this stage,' it added. The company noted that it had 'very limited' information due to losing operational control of the subsidiaries in December. The raid comes amid tensions between Niger's military-led government and the French state-owned nuclear fuel company. In June 2024, Niamey revoked the license of Orano, which had allowed it to operate the Imouraren mine, one of the world's largest uranium mines, in northern Niger. In December 2024, Orano announced that Nigerien authorities had taken operational control of its Somair uranium mine in the northern Arlit region, where Orano holds a 63.4% stake and the Nigerien state owns the remainder. Niger is the world's seventh-largest uranium producer, accounting for approximately 5% of global output, according to the World Nuclear Association. The country's uranium exports are a significant source of fuel for France's nuclear reactors, supplying about 15%–17% of the uranium used in French electricity generation. Since the military coup in July 2023, Niger's transitional authorities have been reviewing foreign mining concessions and security agreements. Last July, Canada's GoviEx Uranium announced that its mining permit had been withdrawn by the former French colony's government. The Sahel state's allies, Mali and Burkina Faso, have also been stepping up pressure on foreign mining companies in recent years as part of efforts to make more revenue from the extractive sector to boost state income. Mali passed a new mining code in 2023 that allows the military government to own up to 30% of any new projects. It has since been embroiled in a dispute with Canadian miner Barrick Gold and Australia's Resolute Mining over unpaid revenues.
Reuters
06-05-2025
- Business
- Reuters
Niger security forces search Orano offices and seize phones, sources say
NIAMEY, Niger, May 6 (Reuters) - Security forces in Niger have searched the offices of uranium miner Orano's local subsidiaries, seizing phones and equipment, two sources told Reuters on Tuesday, months after the French company said authorities had seized control of its Somair mine. One of the sources, who is close to Orano, also said local director Ibrahim Courmo had been arrested. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Orano said it had "very limited" information on the situation because it had lost operational control of its subsidiaries in December. "On Monday, May 5, it appears that Nigerien law enforcement officers intervened at the headquarters of the Somair, Cominak, and Orano Mining Niger subsidiaries in Niamey, with equipment seized," the company said a statement to Reuters late on Tuesday. "We are very concerned about the situation, as we have not been able to contact the Orano representative in Niger at this stage." Orano on December 4 announced that Niger's military-led government, which seized power in a coup in 2023, had taken control of the Somair mine, of which Orano owns about 63%, with the government holding the remaining stake. Niger and neighbouring Mali and Burkina Faso have been stepping up pressure on foreign mining companies over the past year. Malian authorities have arrested foreign executives and seized gold stocks amid negotiations with mining companies in recent months. Burkina Faso's junta last month vowed to take control of more foreign-owned industrial mines. In June 2024, Orano said Niger had removed a mining permit for its Imouraren subsidiary. Canada's GoviEx Uranium (GXU.V), opens new tab said it had been stripped of its right to develop a uranium project in Niger the following month. All three Sahel countries are led by military governments that have seized power since 2020 and sought to move away, economically, politically and militarily, from former colonial power France.
