Niger, the world’s sixth-largest uranium producer, will review mining agreements with companies including Areva SA to ensure they’re fair to the West African country, an adviser to the mines minister said.
Minister of Mines and Energy Mahaman Abda, appointed by Niger’s military rulers on March 1, hasn’t yet set a schedule or format for the audit, his adviser Mahaman Laoun Gaya said by phone today from the capital, Niamey.
“The military authorities have decided to audit all the uranium and gold contracts,” Gaya said. “These are the most important ones to look at. The new government has only just taken office, so we don’t have any details yet.”
Niger made up about 6 percent of world uranium output in 2008 and it may reach 9 percent by 2015, BMO Capital Markets analyst Edward Sterck wrote in a Feb. 19 note. Most of the output is managed by Areva, which is investing 1 billion euros ($1.36 billion) in its third mine in the country, he wrote.
Realpolitik.tv
