Subscribe for Investment Insights. Stay Ahead.
Investment market and industry insights delivered to you in real-time.
The military authorities in Niger have seized Orano’s SOMAÏR uranium mine, according to the French nuclear group. The military seized control of Niger’s government in 2023.
“For several months, Orano has been warning of the interference that the group has been suffering in the governance of SOMAÏR, of which it is the majority shareholder and operator in Niger. The decisions taken at the company’s board meetings are no longer being applied and, as a result, Orano is today confirming that the Nigerien authorities have taken operational control of the company”
— Orano, Orano confirms the loss of operational control of SOMAÏR in Niger
French nuclear fuel cycle company, Orano, holds a 63.4% stake in SOMAÏR, has been facing increasing interference from the Nigerien authorities who have refused to implement board decisions, in particular a call to halt production-related expenses to prioritize salary payments and maintain industrial facilities.
![Military junta in Niger seizes uranium mine from Orano IMG 7086 2048x1198 1 - The Oregon Group - Critical Minerals and Energy Intelligence](https://theoregongroup.com/wp-content/uploads/2024/12/IMG_7086-2048x1198-1-1024x599.jpg)
![Military junta in Niger seizes uranium mine from Orano Natural Uranium imported France 2022 2048x1198 1 - The Oregon Group - Critical Minerals and Energy Intelligence](https://theoregongroup.com/wp-content/uploads/2024/12/Natural-Uranium-imported-France-2022-2048x1198-1-1024x599.jpg)
Orano is 90% owned by the French state and runs 3 uranium mines in Niger, Somaïr, Cominak and Imouraren.
The military authorities are reportedly refusing to export the production from the facility.
Niger may produce only 5% of the world’s uranium, the seventh largest uranium exporter in the world, but it represents more than 24% of the EU’s uranium imports. Niger uranium is of special importance to France, which generates 70% of it’s national electricity supply from its 56 nuclear reactors.
Our analysis on what the coup and seizure of SOMAÏR means for global commodity markets:
Subscribe for Investment Insights. Stay Ahead.
Investment market and industry insights delivered to you in real-time.