Niger military coup sparks volatility in global uranium market

Prices for uranium and its processing continued to rise in 2023, reaching almost historical records, mainly due to the end of supplies from Russia and the recent military coup in Niger, West Africa. Rebels who seized power in Niger no longer allow uranium to be exported from the Orano deposits in the north of the country.

On July 26, soldiers from Niger’s presidential guard deposed President Mohamed Bazoum and closed the country’s borders. The BBC is reporting that military chiefs from the West African regional bloc Ecowas are currently meeting in the Ghanaian capital, Accra, to discuss the deployment of a standby force for possible military intervention to restore democracy in Niger.

Orano SA is a multinational nuclear fuel cycle company headquartered in Châtillon, Hauts-de-Seine, France that is owned by Areva, Mitsubishi Heavy Industries, Ltd. and Japan Nuclear Fuel Limited. Niger covers a quarter of uranium demand in the EU […]

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