Let us know about free updates
French state-owned nuclear fuel company Orano is investigating the sale of uranium assets in Niger after its relationship with the military rulers of the West African country collapsed.
Orano runs three Niger mines in a joint venture with the Russian-backed government that seized power in a coup two years ago, but was stripped of its rights in a June project and was forced to immediately suspend work on another project due to economic pressure.
At the time, Niger blocked uranium exports and said it had stopped paying its obligations as a joint venture since the 2023 coup overthrew the country’s Western government.
According to several people familiar with the issue, this forced Orano to consider the possibility of selling Niger assets.
Orano’s withdrawal will be the latest confirmation of the loss of French influence in the region and the failure of the “Fransaffli” policy that Paris had attempted to maintain its influence on its previous colonies. France has also withdrawn soldiers from Chad, Mali and Burkina Faso in recent years.
The sales process is a politically challenging risk for the French government, which owns 90% of the business, and buyers in Russia and China are said to be circulating assets.
In December, Orano said it had stopped administering its Niger subsidiary and launched several international arbitration cases against the state. Orano also began legal proceedings against the military junta after an office was attacked by the Intelligence Agency in Niger this month, leading to the arrest of directors of a local company.
Orano declined to comment on the sales process, saying it focused on the arbitration case. However, in a statement to the Financial Times, “Some parties have the freedom to express benefits on the Niger group’s mining assets and submit offers if they wish.”
Curzon Uranium, part of the Curzon Group of Companies, is one of those looking to buy Niger assets, said founder Nick Clarke.
“We need to find a peaceful solution to this, which drives the product,” Clark said, adding that he is “actively involved” with unknown Middle Eastern investors over joint purchases. “It’s going to be a competitive process,” he said.
Niger is a relatively small player of uranium, producing around 5% of the global production, but in France it plays a large role and supplies about a fifth of the country’s natural uranium.
Analysts warn of the looming uranium supply crunch, as countries including China and the US are trying to deploy more nuclear weapons. Radioactive metals are converted to fuel used to power reactors.
Niger is part of the West and Central African “coup d’etater belts” that the military has driven many governments in recent years. Niger, alongside Burkina Faso and Mali, is all approaching Russia at the expense of former colonial power France and the West.
Niger, Burkina Faso and Mali have introduced new mining codes that allow access to a larger share of mining revenue and access to larger government shares. The Niger government has been requested for comment.
