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Released August 18, 2023 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Global Atomic Corporation has announced that the recent military coup in Niger could add up to a year to the commissioning of its major Dasa uranium mining project.
Located 105 kilometers (km) south of the established uranium mining town of Arlit, the US$208 million project was originally expected to start delivering uranium oxide--yellowcake--to clients from early 2025. In a statement, the company noted that the situation in-country remained "fluid" and that operations and staff are safe for now.
The company said: "Subsequent to the end of the quarter, on July 26, 2023, the military in Niger placed President Mohamed Bazoum under house arrest and assumed day-to-day operation of the Government. While the situation in Niger remains fluid, the Country remains relatively calm. Importantly, our people remain safe and normal business is being conducted at our offices and development of the Dasa Project continues."
Global Atomic Corporation is hopeful that its mining subsidiary, SOMIDA (Société Minière de Dasa SA), which is 20%-owned by the government of Niger, will be able to begin talks with the new government soon. "The newly appointed Energy, Mines and Petroleum Minister, Mahaman Moustapha Barké, who was formerly the head of the Niger Uranium company SOPAMIN, was appointed today. This will now enable SOMIDA personnel to resume dialogue with the Mines Ministry to confirm their support for the Dasa Project. In addition, land borders are reopening. We expect the movement of goods and services will resume in due course. The Head of ECOWAS has also announced diplomatic discussions would continue to resolve issues and use of military force would be a last resort."
It added: "The Company estimates the contingency plan could delay commissioning of the Processing Plant by 6 to 12 months. To match the delivery of ore from mining activities with startup of the Processing Plant, the Company would defer continued development of the underground mine workings which are now ahead of schedule. The plan will be to have an ore stockpile on surface prior to mill commissioning."
As noted in an earlier Industrial Info briefing, Niger supplies about 5% of the world's uranium and is a leading supplier to the European Union (EU), accounting for more than 25% in 2022. For additional information, see August 14, 2023, article - Niger's Coup: Fall of Democracy and Economic Implications. France, which relies on nuclear power for two thirds of its electricity, gets 15% of its uranium from Niger. European nuclear agency Euratom stated that the military coup poses no immediate risk to the EU's nuclear power production and that if deliveries are cut it has enough stockpiled uranium to fuel its nuclear power plants for three years. French company Orano (formerly AREVA), which operates a major uranium mine near the town of Arlit in Niger, told AFP that "the current crisis carries no short-run risks on Orano's supply capacities both in France and internationally," adding that its supply is diversified with mines spread across four continents.
Industrial Info is tracking 79 projects in Niger totaling US$7.8 billion. Oil & Gas projects account for US$4.9 billion, and Power and Metals & Minerals projects account for US$1.4 billion and US$1 billion, respectively. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for a list of related project reports.
Click on the image at right for a graph showing Niger's project activity by industry.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Located 105 kilometers (km) south of the established uranium mining town of Arlit, the US$208 million project was originally expected to start delivering uranium oxide--yellowcake--to clients from early 2025. In a statement, the company noted that the situation in-country remained "fluid" and that operations and staff are safe for now.
The company said: "Subsequent to the end of the quarter, on July 26, 2023, the military in Niger placed President Mohamed Bazoum under house arrest and assumed day-to-day operation of the Government. While the situation in Niger remains fluid, the Country remains relatively calm. Importantly, our people remain safe and normal business is being conducted at our offices and development of the Dasa Project continues."
Global Atomic Corporation is hopeful that its mining subsidiary, SOMIDA (Société Minière de Dasa SA), which is 20%-owned by the government of Niger, will be able to begin talks with the new government soon. "The newly appointed Energy, Mines and Petroleum Minister, Mahaman Moustapha Barké, who was formerly the head of the Niger Uranium company SOPAMIN, was appointed today. This will now enable SOMIDA personnel to resume dialogue with the Mines Ministry to confirm their support for the Dasa Project. In addition, land borders are reopening. We expect the movement of goods and services will resume in due course. The Head of ECOWAS has also announced diplomatic discussions would continue to resolve issues and use of military force would be a last resort."
It added: "The Company estimates the contingency plan could delay commissioning of the Processing Plant by 6 to 12 months. To match the delivery of ore from mining activities with startup of the Processing Plant, the Company would defer continued development of the underground mine workings which are now ahead of schedule. The plan will be to have an ore stockpile on surface prior to mill commissioning."
As noted in an earlier Industrial Info briefing, Niger supplies about 5% of the world's uranium and is a leading supplier to the European Union (EU), accounting for more than 25% in 2022. For additional information, see August 14, 2023, article - Niger's Coup: Fall of Democracy and Economic Implications. France, which relies on nuclear power for two thirds of its electricity, gets 15% of its uranium from Niger. European nuclear agency Euratom stated that the military coup poses no immediate risk to the EU's nuclear power production and that if deliveries are cut it has enough stockpiled uranium to fuel its nuclear power plants for three years. French company Orano (formerly AREVA), which operates a major uranium mine near the town of Arlit in Niger, told AFP that "the current crisis carries no short-run risks on Orano's supply capacities both in France and internationally," adding that its supply is diversified with mines spread across four continents.
Industrial Info is tracking 79 projects in Niger totaling US$7.8 billion. Oil & Gas projects account for US$4.9 billion, and Power and Metals & Minerals projects account for US$1.4 billion and US$1 billion, respectively. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for a list of related project reports.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
