[Reuters, 28 August] Niger's minister of mines, Mohamed Abdoulahi, announced that the country has sold 300 tonnes of uranium to US utility Exelon for at least $41.7 million. He said that the first 100 tonnes of this would be sent to Exelon by the end of 2007, with the remainder following in early 2008. The move marks the country's first direct sale of uranium to the market. Areva of France, which operates both of Niger's existing operating uranium mines (Arlette and Akouta), has previously exported all the uranium produced at the mines and paid the government a fixed royalty per pound of uranium based on notional prices. However, in late July, Areva agreed to increase the royalties it pays to the government from some $26/lb to $38/lb to bring it into line with world uranium prices. In addition, Areva agreed to give Niger the right to sell 300 tonnes of the uranium on the open market, which it has now done. The government of Niger has announced that it will be starting talks to seek even more advantageous terms for the contracts for 2008-2010.
Further information
WNA's Uranium in Niger and Gabon information paper
WNN: Niger issues new uranium permit, seeks advantageous terms
WNN: Troubled Niger to earn more from uranium
WNN: Nuclear executive kidnapped in Niger
_51287.jpg)
