French nuclear fuel specialist Orano has reported a loss of 133 million euros for the first half of 2024, primarily due to difficulties in its mining operations in Niger. The company has faced a “highly degraded” political situation since the military regime took power in Niamey exactly one year ago.
Orano’s Chief Financial Officer, David Claverie, emphasized that the loss is largely attributable to “197 million euros” in “provisions and impairments” recorded during the semester. These impairments include the revocation of the Imouraren mining license by Nigerien authorities in June, which cost the company 69 million euros, and the devaluation of assets related to its struggling subsidiary Somaïr.
Somaïr, the only mine Orano has operated in northern Niger since 1971, accounted for 105 million euros in impairments. Additionally, the group has allocated 23 million euros for various risks, including tax-related issues within the country.
This financial setback highlights the severe impact of the adverse political climate in Niger on Orano’s operations, reflecting broader challenges faced by the company in maintaining its mining activities in the region.