French nuclear group Orano (ORAN.PA) has revealed that 1,500 metric tons of uranium remain stockpiled at its expropriated SOMAIR mine in northern Niger, warning that it will seek compensation and pursue criminal charges if the material is seized or sold without authorization, Reuters reported.
A source at the site confirmed that Niger has not yet sold any uranium, though “potential buyers include Iranians, Russians and Turkey.”
Orano launched arbitration proceedings at the World Bank’s International Center for the Settlement of International Disputes in January, after Niger’s military government blocked operations at SOMAIR and later nationalized the mine.
On September 23, a World Bank tribunal ordered Niger to halt any sale or transfer of uranium that Orano said had already been mined before the suspension of operations.
Orano, in an emailed statement to Reuters, said it has no information about subsequent production at the site but added, “To the best of our knowledge, the uranium is still stored at the SOMAIR site.”
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The SOMAIR mine, located near the city of Arlit, has produced more than 70,000 tons of uranium since the 1970s.
The material currently stored there, estimated by a mine source at around 1,570 tons, is now under the supervision of Niger’s state-owned company SOPAMIN (Société du patrimoine des mines du Niger).
“To my knowledge, there have been no official sales,” the source noted, while acknowledging “there is a lot of demand for purchases.”
The uranium stockpile is valued at roughly $270 million, with spot prices at $82 per pound.
Prices have risen about 30% since mid-March but remain below the February 2024 peak of $106.
Orano declined to comment on reports of potential buyers approaching Niger, insisting its focus remains on arbitration.
Niger’s government has not responded to requests for comment. Niger, the world’s seventh-largest producer of uranium, a resource used in nuclear fuel and cancer treatment, once supplied 15% of Orano’s total uranium output.
Its decision to expropriate Orano’s 63.4% stake in SOMAIR mirrors a broader regional trend in which military-led governments in Mali, Burkina Faso, and Guinea have asserted greater control over natural resources.
Since seizing power in a July 2023 coup, Niger’s military government has also tightened its grip on the country’s gold, oil, and coal sectors.
At the United Nations General Assembly, Prime Minister Ali Lamine Zeine accused foreign companies of exploiting Niger for decades, declaring that uranium had brought “misery, pollution, rebellion, corruption and desolation” to Nigeriens while enriching France.
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Niger’s Military Government Moves To Nationalise Uranium Mine Operated By French Nuclear Giant Orano
Image Credit: Reuters
