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Niger to Revoke Canadian Company's License to Mine Uranium Ore Unless Mining Starts by 3 June: Media

10:53, 20 April 2024

CC BY 2.0 / Nuclear Regulatory Commission / Yellow Cake Uranium

Rasina Musallimova

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For Niger, uranium is the main export product, accounting for 7.6% of GDP and 6.52% of budget revenues in 2020.

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Niger to revoke Canadian company GoviEx's license to mine uranium ore unless mining begins by 3 June, media reported.

Article 39 of the Niger Mining Code allows this to be done legally, because it obliges license holders to start mining two years after its issuance. GoviEx got the license in 2015.

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GoviEx has accelerated the pace of the project in recent months in the face of a sharp rise in world uranium prices and plans to start production in 2025.

In March this year, the company announced the start of negotiations with creditors to provide $200 million in loans for the development of the mine.

In January, Nigerien authorities suspended the issuance of new mining licenses and launched the audit of the sector, the country's Ministry of Mines reportedly revealed.