The government of Niger and Madaouela Mining Company (MAMICO) have signed a new mining convention that increases the state's participation in the Madaouela uranium project to 40%. The agreement was signed on September 23, 2026, in Niamey, by Niger's Minister of Mines, Abarchi Ousmane, and Hoskins Philip Ross, CEO of MAMICO SA/GoviEx. This development follows the Council of Ministers' approval on August 21, 2026, to reassign the "Madaouela I" mining permit to MAMICO.
The new convention resolves a dispute that arose after the mining permit reverted to the state in July 2024. Following technical, legal, and economic discussions, the parties agreed on a new partnership structure. Under this structure, Atomic Eagle, a partner in the project, holds 60% and has operational control, while the Nigerien government holds 40%. The agreement includes an initial payment of $10 million (approximately 5.7 billion CFA francs) to the state.
The Madaouela uranium project is expected to create around 1,000 jobs, with priority given to Nigerien companies for goods and services under the local content policy. Niger's Minister of Mines emphasized the need for the project to drive economic transformation through training, skills transfer, and the development of local businesses. He also stressed the importance of environmentally responsible and economically viable operations.
Hoskins Philip Ross described the convention as a framework for securing international financing and investment to develop the Madaouela project. He welcomed the 40% state participation as a partnership that opens a new phase for the project. The agreement marks a shift from a contentious period to a collaborative partnership aimed at restarting uranium exploitation and increasing economic benefits for Niger.
The new partnership is expected to enhance the project's contribution to Niger's economy and improve living standards for local populations. The project's development will involve collaboration between the government, MAMICO, and other stakeholders to ensure that the benefits are shared equitably. The convention also includes commitments to strengthen the mining administration and promote local development.
The Madaouela uranium project has been a significant focus for Niger's mining sector, with the potential to generate substantial revenue and create employment opportunities. The project's progress will be closely watched by stakeholders, including government officials, investors, and local communities. Effective implementation of the new convention will be crucial to achieving the project's objectives.
The agreement between Niger's government and MAMICO reflects a renewed commitment to cooperation and mutual benefit. Key aspects of the partnership include increased state participation, job creation, and local content development. The project's success will depend on the effective collaboration between all parties involved and the implementation of sustainable and responsible mining practices.
Key points
- Niger's government increases its stake in the Madaouela uranium project to 40% through a new mining convention with Madaouela Mining Company.
