Niger's Bold Move: Nationalizing the Somair Uranium Venture

Niger's government announced on Thursday its intent to nationalize the Somair uranium joint venture, currently operated by the French nuclear fuels company Orano. The decision, revealed in a statement on national television, is the latest move in an escalating dispute between the two entities.

The government cited grievances including the expired mining agreement and what it described as irresponsible behavior by Orano, a company partly owned by the French state, which Niger perceives as hostile since July 2023. As a result, Niger will assume full control of Somair.

This move comes amidst deteriorating relations between France and Niger, following a military coup. Orano, which holds a 63% stake in Somair, has been cut off from the operation since the takeover. The company is pursuing arbitration and considering selling its stake, while expressing concerns about the mine's financial health due to government interference.

(With inputs from agencies.)