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Europe targets Niger – for its uranium

EUROPE TARGETS WORLD’S MAJOR URANIUM PRODUCER NIGER. In Depth News, 

“……….According to Wikipedia, Niger has been a uranium exporter since the 1960s and has had substantial export earnings and rapid economic growth during the 1960s and 1970s. The persistent uranium price slump brought lower revenues for Niger’s uranium sector, although it still provides 72% of national export proceeds.

When the uranium-led boom ended in the early 1980s the economy stagnated, and new investment since then has been limited. Niger’s two uranium mines – SOMAIR’s open pit mine and COMINAK’s underground mine – are owned by a French-led consortium and operated by French company Areva.

As of 2007, many licences have been sold to other companies from countries such as India, China, Canada and Australia in order to exploit new deposits. In 2013, the government of Niger sought to increase its uranium revenue by subjecting the two mining companies to a 2006 Mining Law.

The government argued that the application of the new law will balance an otherwise unfavourable partnership between the government and Areva. The company resisted the application of the new law that it feared would jeopardize the financial health of the companies, citing declining market uranium prices and unfavourable market conditions.

In 2014, following nearly a year long negotiation with the government of Niger, Areva agreed to the application of 2006 Mining Law of Niger, which would increase the government’s uranium revenues from 5 to 12 percent. [IDN-InDepthNews – 27 September 2015]…….http://www.indepthnews.info/index.php/global-issues/2437-europe-targets-worlds-major-uranium-producer-niger

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September 30, 2015 - Posted by | EUROPE, Niger, politics international

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