Niger temporarily halts issuance of new mining licenses

Niger’s authorities have temporarily halted the issuance of new mining licenses and ordered an audit of the industry, the Ministry of Mining announced, according to press reports.

It is unclear what motivated the measure. However, it comes amid the increase in the price of the commodity on the international market.

Last week, the price of a pound of uranium on the spot market reached $100, a level not seen since 2007, reports revealed.

Niger is home to the highest-quality uranium deposits on the continent and ranks as the seventh-largest global producer of uranium, the radioactive element utilized as a source of fuel for nuclear power.

The incumbent authorities answering to a junta that seized power on July 26, 2023 after deposing President Mohamed Bazoum, want to control mining activities in the country.

The country has one major uranium mining operation, run by France’s State-owned Orano company.