Niger: $10 million and 1,000 jobs to revive the Madaouela uranium project
Niger has reached an agreement with Madaouela Mining Company (MAMICO) to revive the Madaouela uranium project in the north of the country. The company is 60% owned by Atomic Eagle and 40% by the Nigerien state, with an initial royalty of $10 million planned, and the Ministry of Mines says the revival could create approximately 1,000 jobs, primarily for young Nigeriens. The agreement follows the withdrawal of GoviEx Uranium's licence in 2024 and the resulting arbitration dispute, and stipulates the withdrawal of the arbitration proceedings within seven days of its signing.
Why it matters: The deal illustrates resource nationalism, as Niamey seeks to increase its stake in mining projects and redefine its relationships with foreign operators in the uranium sector.