.jpg){kind=link}
The US-based African Discovery Group (AFDG) decided to terminate its uranium development deal with Central Global Access International Niger due to concerns raised by shareholders about the political situation in Niger.
Despite the attractive investment opportunities in uranium, AFDG's board believed that the geopolitical risks in Niger were too high to continue with the deal.
In July 2024, AFDG agreed to acquire a uranium mining license in Niger. The company planned to issue shares to partners, including the Nigerien government, after recovering the costs. AFDG was supposed to retain majority ownership. The deal was scheduled to close in the fourth quarter of 2024, pending approval.
On July 26, 2023, Niger's President Mohamed Bazoum was deposed in a coup led by General Abdourahmane Tchiani to avoid "the gradual and inevitable demise" of the country. Following the takeover, military cooperation with Western countries, including the United States and France, significantly decreased. In March, the transitional government terminated a military agreement with the US, leading to the withdrawal of American forces from Niger.
According to the Nigerien authorities, the agreement with the US violated the country's constitution.