Orano Initiates Arbitration Over Niger Licence Dispute

French nuclear fuels company Orano has begun arbitration proceedings against Niger after its mining licence was revoked. This follows increased pressure on foreign investors by Niger's government. Additionally, Canada's GoviEx Uranium also lost its right to develop a uranium project in the country.

French nuclear fuels company Orano has launched arbitration proceedings against Niger following the revocation of a mining licence held by its subsidiary, Imouraren. This move highlights the escalating tensions between Niger's military-led government and foreign investors in the country.

Orano announced in June that Niger had withdrawn the mining permit for Imouraren. The situation worsened when Canada-based GoviEx Uranium also revealed it had lost its development rights to a uranium project in Niger, reflecting an increasingly difficult environment for foreign companies.

With Niger producing about 4% of the global supply of uranium, key for nuclear energy, the recent government actions have raised concerns about investment security. In a related development, Barrick Gold has also declared its intention to seek arbitration in a dispute with neighboring Mali.

(With inputs from agencies.)