Niger increases stake in Madaouela uranium project to 40%

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A man walks on the waste disposal site of a uranium mine in Arlit, Niger, March 8, 2023. /CFP

Niger has increased its ownership of the Madaouela uranium project in the Agadez region to 40%, marking a negotiated settlement with Australian-listed uranium explorer Atomic Eagle.

The agreement brings an end to a dispute that began after Niger withdrew Atomic Eagle's mining permit for the project in 2024 and returned the asset to state control.

Madaouela is considered an important uranium development in a country that has long been one of Africa's major uranium producers.

Following the permit revocation, Atomic Eagle launched international arbitration proceedings against Niger. However, both sides agreed to suspend the case while they worked toward a negotiated solution.

Under the latest agreement with Niger's Ministry of Mines, the state will now hold a 40% interest in Madaouela, while Atomic Eagle will retain 60% and continue to oversee operations.

Niger's mining ministry described the deal as a new chapter built around dialogue, partnership and development.

Source(s): Reuters

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