World Bank court blocks Niger’s Uranium trade

AGADEZ, Niger, Sept. 26 (Running Africa) - The takeover came after tensions over mining profits and management disputes. In response, the World Bank's International Centre for Settlement of Investment Disputes (CSID) issued the order, prohibiting the nation from selling or transferring Uranium until the conflict with Orano is resolved. The body also called for the release of Orano's country representative, who remains detained despite an order for his release in July.

According to Orano, which holds a 63% stake in Somaïr in collaboration with the Niger State-run firm Sopamin, the mine was on the verge of bankruptcy. The company flagged the mine's deteriorating financial state in October following disputes with government entities.

Since seizing power in a July 2023 coup, Niger’s military rulers have tightened control over the country’s gold, oil, and coal sectors. Defending their move to nationalize the Somaïr uranium mine, they accused French nuclear firm Orano of extracting 86.3 percent of Niger’s uranium output since 1971. Orano has countered that roughly 1,500 metric tons of uranium remain stockpiled at the site—valued at an estimated $270 million. According to a source cited by Reuters, the uranium has yet to be sold, though prospective buyers are believed to include Russia, Iran, and Turkey.