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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on June 19, 2025

    Featured image for article about Headlines

    NIAMEY/PARIS (Reuters) -Niger plans to nationalise the Somair uranium mine operated by France's Orano after months of worsening relations between the French state-owned company and its local partners following a 2023 coup in the West African nation.

    Niger's decision to nationalise Somair comes amid a wave of mine nationalisations across West Africa, prompting concerns from global miners and other foreign investors who have invested billions of dollars into the region.

    In a statement late on Thursday, Niger accused the French company of taking a disproportionate share of the mine's commercialised production compared to its shareholding.

    "According to the shareholders' agreement, the uranium produced by SOMAÏR is removed by the shareholders in proportion to their respective stakes. However, the figures....are far from reflecting this sharing rule," the statement said.

    Orano holds a 63% stake in Somair, while Niger's state-owned Sopamin owns the remainder, but the government said Orano had taken 86.3% of production between 1971, when the mine was launched, and 2024, without elaborating.

    It also accused Orano of what it called "irresponsible, illegal and unfair" behaviour pointing to the company's decision to withdraw French nationals working on the project, disconnect it from the group's IT system, and halt production at the mine.

    Orano declined to comment on Niger's plans to nationalise Somair. It did not immediately respond to a request for comment on the government allegations.

    Orano has been pursuing arbitration against Niger and filed lawsuits in the country against state actions, and had warned of government interference at Somair, which it said was damaging the mine's financial situation.

    It was exploring a potential sale of its stake in Somair, after Niger blocked uranium exports from the mine and took control of it, according to a Financial Times report in May.

    The government seized control of the mine in December.

    In neighbouring Mali, Canada's Barrick Mining had its Loulo-Gounkoto gold complex placed under state control by a court on Monday in a major escalation of a dispute over taxes and ownership.

    Burkina Faso has also nationalised five gold mines this month.

    (Reporting by Boureima Balima in Niamey; Additional reporting by Jean-Stephane Brousse and Dominique Patton in Paris; Writing by Ayen Deng Bior; Editing by Bate Felix, Rod Nickel and Rachna Uppal)

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