Latest news with #Sopamin
Yahoo
4 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.
