French nuclear company Orano has disclosed that around 1,500 metric tons of uranium remain stockpiled at the SOMAIR mine in northern Niger, a site seized by the country’s military government after the 2023 coup. The uranium, valued at roughly 270 million dollars at current market prices, is at the center of arbitration proceedings launched by Orano at the World Bank’s International Center for Settlement of Investment Disputes, Reuters reported.
The SOMAIR mine, where Orano held a 63.4 percent stake, is now under the control of Niger’s state-owned mining company SOPAMIN. Orano insists that, to its knowledge, none of the uranium has been transferred or sold without its approval. The company argues that any such move would breach international arbitration rulings, which ordered that the stockpile remain untouched during the ongoing dispute, as reported by Reuters.
“To the best of our knowledge, the uranium is still stored at the SOMAIR site,” Orano said in a statement, stressing that it would seek compensation and consider legal action if the material is sold or diverted. The company is also urging Niger to comply with the World Bank tribunal’s directive to safeguard the stockpile while proceedings continue.
Analysts warn that the standoff could heighten tensions between France and Niger and fuel wider investor concerns across West Africa’s mining sector. With Niger asserting control over strategic resources and foreign companies raising alarms over contractual breaches, the uranium dispute underscores rising risks to global nuclear fuel supply and regional investment stability.
