Niger increases stake in Madaouela uranium project to 40%

The government of Niger has signed a new mining convention with Madaouela Mining Company (MAMICO) to restart the Madaouela uranium project in the Agadez region. Under the new agreement, the state’s stake in the project increases to 40%, up from a previous 20%, while the Australian group Atomic Eagle retains a 60% interest and operational control.

The agreement follows a period of legal dispute after Niger revoked the mining permit previously held by GoviEx (now Atomic Eagle) in July 2024. The two parties had engaged in international arbitration before agreeing to negotiate a settlement. The new terms include an initial $10 million royalty payment to the state, commitments to local development, and the projected creation of approximately 1,000 jobs for Nigerien youth.

The Madaouela site is considered a significant uranium resource, with estimated reserves of approximately 52,800 tonnes. This move is part of a broader strategy by the Nigerien authorities to increase state control and revenue from strategic natural resources following the 2023 coup.