French nuclear fuels group Orano has introduced the lack of operational management over its Somair uranium mine in Niger, citing interference by Nigerien authorities and governance breakdowns on the website.
The event marks the most recent problem for international firms working within the West African nation amid a deteriorating political and enterprise local weather.
Orano, which owns a majority stake of over 60% in Somair, disclosed on Wednesday that board selections are not being noticed.
This follows months of escalating tensions and a suspension of uranium manufacturing final 12 months after Niger halted exports, Reuters first reported.
In an announcement, the Paris-based firm highlighted a November 12 decision by Somair’s board to curtail manufacturing expenditures, preserving funds for salaries in gentle of strained monetary circumstances. Orano claims that this decision is being ignored, with production-related spending persevering with unchecked.
“The continuation of manufacturing bills is additional exacerbating the monetary difficulties of the corporate,” Orano stated.
Niger is a major participant within the international uranium market, contributing roughly 4% of worldwide output. Uranium is a vital enter for nuclear power, and the nation has lengthy been a key provider for Orano. At full capability, Niger accounted for about 15% of Orano’s uranium wants.
Nonetheless, the nation’s navy coup in 2023 has launched uncertainty for international operators, together with Orano, which has confronted rising difficulties in sustaining its presence and management.
As Niger’s home insurance policies evolve beneath navy rule, the way forward for international enterprises like Orano stays unsure. For now, the French nuclear group continues to watch the state of affairs, although prospects for a decision seem more and more advanced.
