DAKAR (Reuters) – The French nuclear fuel specialist Orano said on Wednesday that his maintenance mainly owned with Niger, Somaïr, was on the verge of bankruptcy due to the export restrictions imposed by the Niamey government.
At the end of 2024, Orano, whose French state has 90% of the capital, had announced that the military government of Niger, in power from a coup in 2023, had taken operational control of Somaïr.
Last month, Niamey announced his decision to nationalize the company responsible for exploiting the only uranium mine in the country.
Niger, which also exports gold and coal, is the world’s seventh producer of uranium. The country represented approximately 15% of Orano uranium supply when its local subsidiary worked at full capacity.
Orano told Reuters, in responses sent by email that he was sounding alarm on the increasingly critical financial situation of Somaïr since October.
“The insistence of the Nigerian authorities to continue production expenses at all costs led to the current situation where Somaïr is on the verge of bankruptcy,” said Orano.
The Nigerian Ministry of Mines did not immediately respond to a request for comments on the Orano assessment of the company’s financial situation.
(Written by Maxwell akalaare Adombila with Boureima Balima in Niamey and Polina Devitt in London, Noémie Naudin, edited by Blandine Hénault)
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