Niger's Bold Move: Nationalizing the Somair Uranium Venture
Niger's government plans to nationalize the Somair uranium joint venture, escalating tensions with French firm Orano amid strained diplomatic relations following a July 2023 coup. The decision follows grievances over an expired mining agreement, prompting Orano to pursue legal action and consider selling its stake.
Niger is set to nationalize the Somair uranium venture, operated by France's Orano, as announced on national television. This move marks an intensifying dispute between Niger and the French company.
Relations have soured since a military coup in July 2023. The Niger government cites grievances including the expired mining agreement as reasons for this action.
Orano holds a majority stake but has faced exclusion following the government's takeover. The company has initiated legal proceedings while contemplating selling its stake as tensions rise.
(With inputs from agencies.)
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