The new Military Government in Niger has with immediate effect banned the export of Uranium to France.
General Abdourahmane Tiani, who was declared the new Head Of State by the coup plotters toppled the Mohamed Bazoum led government, accusing it of corruption.
Niger’s new government suspended the export of Uranium and Gold to France after the European nation suspended Aide to the West African nation.
Over 50 per cent of the uranium ore extracted from Niger is used for fuelling French nuclear power plants. 24% of EU uranium imports reportedly come from Niger and the move to ban exports may cause an energy crisis within the EU.
Niger is the seventh-largest uranium producer worldwide accounting for 5% of global production. According to French mass media, Niger accounts for 15% – 17% of the uranium used to generate electricity in France.
A nuclear energy expert however said that the export ban will not affect the French Nuclear energy industry in the short term as Uranium in exported in specific blocks and the industry usually keeps large stocks in reserves in case of disruptions in supply.
“The halted uranium exports from Niger will not have an immediate impact. Firstly, uranium, unlike gas, is supplied in discrete batches. Secondly, the nuclear power industry traditionally keeps uranium reserves in case of potential interruptions and the French will also have such reserves on hand,” the expert said.
However, if the export ban becomes a permanent and not a temporary measure, France’s nuclear power sector will have to find a replacement for Niger’s uranium in Canada or Australia, Uvarov said. “Accordingly, the government of Niger will also have to find a new buyer for its uranium, and this will most probably be China. This means profound changes for the global uranium market and the uranium price may eventually rise as a result,” the expert added.
