Mining

Uranium: Russia’s Rosatom Eyes France’s Orano’s Assets in Niger

Uranium: Russia’s Rosatom Eyes France’s Orano’s Assets in Niger
Tuesday, 04 June 2024 19:14

Orano (formerly Areva) operates the only active uranium mine in Niger, supplying up to 17% of France's uranium needs. While the July 2023 putsch damaged relations between Paris and Niamey, the junta has strengthened its ties with Moscow.

Russia's nuclear company Rosatom wants to take over Orano’s uranium assets in Niger. Bloomberg reported this ambition on June 3, 2024, citing various sources in Moscow, and at the International Atomic Energy Agency’s headquarters in Vienna, Austria.

Orano, formerly Areva, is a French firm that holds majority interests in the Somaïr mines, still in operation, and Cominak, a mine closed more than two years ago. The company also controls the Imouraren project, whose development was suspended in 2015 due to low uranium prices. Orano's production accounts for between 15% and 17% of France's uranium needs, and around a quarter of that of EU countries.

Russia taking over Orano's assets in Niger could threaten European electricity production, France’s especially. Macron’s country gets 65% of its electricity production from nuclear power. Also, the move would bolster cooperation between Russia and Niger, to the detriment of the former colonizer, France.

The relationship between Paris and Niamey has rapidly deteriorated since the July 2023 putsch in Niger, with French troops exiting the country. Meanwhile, Russia has supplied weapons and instructors to Niamey. Last March, a Nigerian delegation attended the Atomexpo forum in Sochi, Russia's flagship nuclear industry event.

Orano is currently Niger's sole uranium producer, making the country the world's 7th largest supplier of nuclear fuel. Besides the Canadian companies GoviEx Uranium and Global Atomic, which are developing major uranium projects, Niger also houses China’s National Nuclear Corporation. The latter co-owns the Société des Mines d'Azelik (SOMINA) with the Nigerien state. The Chinese company is preparing to resume uranium mining in the African country, after halting its operations for a decade due to falling prices.

On the same topic
Africa’s adoption of small modular reactors (SMRs) varies widely, revealing gaps in regulatory and institutional readiness. Ghana and Rwanda lead...
• Trump announces 50% tariff on all imported copper, citing national security• Copper futures jump past $12,330 per ton as traders react to looming...
• WAF targets 290,000+ ounces of gold in Burkina Faso for 2025, up 40% from 2024• Output driven by new Kiaka mine and continued production at Sanbrado•...
• Dangote refinery will use only Nigerian crude by end-2025 as export contracts expire• In June, 53% of crude was locally sourced; past reliance on...
Most Read
01

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
02

• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...

Nigeria Secures $100 mln ECOWAS Bank Loan for Lagos-Calabar Coastal Highway
03

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
04

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
05

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.