nuclear-news

Niger aiming to get more taxes from Areva’s uranium mning

Niger’s Hedges Bets on French Uranium Assets Oil Price.com. By Editorial Dept | Fri, 04 October 2013 Bottom Line: Under constant threat of terrorist attacks in the security nightmare of Niger, French nuclear group Areva will now face an audit of its uranium mines as the Nigerien government seeks a better deal.

Analysis: Areva has two mines in Niger: Somair and Cominak. Together these two facilities produce about one-third of France’s nuclear power. But the 10-year contract for these mines ends this year, and the government of Niger is planning to take advantage of that by auditing the company and determining how it can get a better deal. The plan will be to increase tax revenues from Areva and to force it into more significant investments in infrastructure. Areva was operating at a loss last year, but is eyeing over 1.1 billion euros in operating profits for this year—and Niger is hoping to get a bigger chunk of this through taxes and infrastructure deals. The government of Niger already owns a 36.4% stake in Somair and a 31% stake in Cominak. Areva will now be audited first based on claims from some groups that it is not transparently reporting its revenues and operating costs. A third mine that is under construction—Areva’s Imouraren uranium mine—is also under scrutiny. The government of Niger has warned that the company will face fines if there are any further delays to the opening of this mine, now slated for 2015.

Recommendation: This could all play into the security question due to the level of government corruption in Niger,…(furher reading -subscription only) http://oilprice.com/Alternative-Energy/Nuclear-Power/Nigers-Hedges-Bets-on-French-Uranium-Assets.html

October 6, 2013 - Posted by Christina Macpherson | Niger, politics, Uranium