Niger: Canadians, Australians and Americans Relaunch Niger's Uranium Industry
[Agenzia Fides] Niamey -- Niger's military junta is seeking to relaunch the country's uranium mining industry with the signing of an agreement with Australian company Atomic Eagle, through which the State of Niger has established the Madaouela Mining Company (MAMICO). The company, 60% owned by Atomic Eagle and 40% by the Nigerien State, plans to revive uranium mining operations in Agadez, in the…
Niamey, Niger — The nation's military junta has struck a deal with an Australian firm to revitalize its uranium mining sector, establishing the Madaouela Mining Company (MAMICO). This 60% joint venture between Atomic Eagle and the Nigerien State aims to resume operations in Agadez, a central-northern region. The agreement includes a $10 million initial royalty payment and investments in local development and mining administration capacity.
It is expected to generate around 1,000 jobs for young Nigeriens. The project, based on 52,843 tonnes of uranium oxide resources, was previously owned by GoviEx Uranium Inc., but was expropriated from them in 2024. The new company will cease arbitration proceedings within seven days of the agreement. Meanwhile, Canadian mining company Global Atomic secured US$414.2 million in debt financing from the US International Development Finance Corporation (DFC) for its Dasa uranium mine project in Agadez.
The mine, operated by Société Minière de Dasa (SOMIDA), is 80% owned by Global Atomic and 20% by the Nigerien government. It was discovered in 2010 and began operations in 2022, but development has faced delays. Completion is now anticipated in the first half of 2028, with commissioning planned for the second half of the year. Despite challenges, Anglo-Saxon mining companies seem undeterred by the security issues and legal disputes in Niger.
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