The Nigerien government and Madaouela Mining Company (MAMICO) have signed a new convention to relaunch the Madaouela uranium project in northern Niger. The project, located near Arlit, was suspended in July 2024 after the Canadian group GoviEx, now known as Atomic Eagle, had its mining permit revoked. The new agreement comes after months of technical, legal, and economic discussions between Niamey and Atomic Eagle.
The agreement marks a significant change in the project's ownership structure, with the Nigerien state now holding a 40% stake, up from 20% previously, while Atomic Eagle retains 60% and operational control. The deal also includes an initial payment of $10 million in royalties, strengthening of the mining administration, investments in local development, and the creation of around 1,000 jobs.
The Madaouela project is a significant uranium deposit, and its revival is crucial for Niger's mining sector. The country has been seeking to increase its control over its mineral resources, particularly uranium, which is a highly sought-after commodity. The new agreement is seen as a major breakthrough in the country's efforts to boost its mining industry.
The deal comes amid heightened tensions between the Nigerien junta and French company Orano, which holds a 90% stake in the Somaïr uranium mine. In June, the Nigerien authorities announced the forced nationalization of Somaïr, prompting Orano to initiate several judicial procedures to defend its rights. The Nigerien government has been seeking to assert its control over the country's mineral resources since the July 2023 coup.
The Madaouela project is expected to contribute significantly to Niger's economy, which is heavily reliant on mining. The country is one of the world's largest producers of uranium, and the revival of the Madaouela project is seen as a major boost to its mining sector. The project is also expected to create jobs and stimulate local economic growth.
The new agreement is a significant development in Niger's mining sector, which has been impacted by the country's transition to a new government. The junta has been seeking to renegotiate mining contracts and increase the country's control over its mineral resources. The Madaouela project is seen as a key test of the government's ability to attract investment and develop the country's mining industry.
The agreement was signed on September 23, 2026, in Niamey, and marks a significant step forward in the development of the Madaouela uranium project. The project's revival is expected to have a positive impact on Niger's economy and mining sector, and will likely be closely watched by investors and industry analysts.
Key points
- Nigerien state increases stake in Madaouela uranium project to 40%
- New agreement includes $10 million in royalties and creation of 1,000 jobs
- Deal comes amid heightened tensions between Nigerien junta and French company Orano
