Niger irks France by revising upwards rip-off uranium prices

The new government in Niger has started showing signs of real liberation by selling their minerals at world market yet France has been getting at half the price.

This reason why France is really angry is now clear. France has been getting uranium at e0,80, but the new government is now selling the mineral at e200 per kg on the export market. Imagine the French were getting it for almost free.

France and its allies in Europe must be in for a big shock as the new government rolls out real liberation from minerals ro lirttle everything else.

From the look of things, it is clear that the new Government is not going back and the Economic Community of West Africa, (ECOWAS) is divided over military intervention and Mali and Burkina Faso have made it clear they will support the new Government militarily, too if Ecowas intervenes militarily.

And all European investors are interested in Niger's rich natural resources, which includes lithium and gold in addition to uranium and oil, said Aboubacar Yacouba Barma, editor-in-chief of the well-known information portal in Niger ActuNiger, said this in an interview with TASS.

"Niger is very rich in various natural resources. Recently, numerous European investors have come to the country thanks to the reform of legislation in the field of mining and despite problems in the field of security," the source said.

"In addition to uranium and oil, European countries are showing great interest in lithium, which is one of the most sought-after metals in the global industry, actively used in production of batteries for mobile phones, cars and much more. The Niger authorities signed agreements with a number of companies a few months ago, including European ones for the exploration and development of lithium deposits, the reserves of which were found in some parts of the country, including in the "zone of three borders" (territories on the borders of Niger, Mali and Burkina Faso )," Barma went on.

"Niger also has significant gold reserves. Currently, it is mined mainly by artisanal methods. But the situation is changing. After the reform of legislation in the field of mining, permits were issued to foreign companies, primarily European ones, to develop gold deposits.  This attracts investment to Niger, as the EU-Niger business forum held in Niamey in February 2023 clearly showed," Barma said.

"It is also worth noting the presence of bauxite reserves in Niger, they are available in several regions of the republic at once. There are also many other resources and minerals that European investors are focused on. Niger is a very large country in terms of territory, its area exceeds 1.2 million square kilometres," the expert emphasized.

"The events that are taking place in Niger will certainly affect ongoing projects, and investors will have to revise their strategies and plans in accordance with the development of the situation. However, if the authorities of some European countries have suspended cooperation with Niger, this does not necessarily apply to companies and investors from these countries. They have taken a wait-and-see approach, but at the same time, we are not observing a wave of statements or the departure of European companies already present in Niger, because the private sector does not necessarily follow political logic," the expert explained.

"There has been a lot of investment in Niger's extractive industries, so the work continues. For example, the French uranium mining company Orano continues its work in the country. Companies and investors, both European and others, have studied political risks and continue to include them, as well as security risks into their business plans to be able to better predict and manage crises of any kind," Barma concluded.