Niger's government and Australian company Atomic Eagle have signed an agreement to revive the Madaouela uranium deposit, according to reports. The project was previously owned by Canada's GoviEx Uranium, which lost its mining permit in July 2024 after Niger's military junta revoked its rights.
Madaouela is one of Niger's largest uranium deposits, with GoviEx having reported measured and indicated resources of 100 million pounds of uranium oxide (U3O8). The permit withdrawal was part of a broader review of mining contracts by Niger's government following the July 2023 coup.
Atomic Eagle, an Australian firm, will now take over the project. The terms of the agreement, including investment commitments and production timelines, have not been publicly detailed. Niger is a major uranium producer, and the Madaouela deposit is considered strategically important for the country's mining sector.
The restart of Madaouela could signal a new phase for Niger's uranium industry, which has faced uncertainty since the coup. However, the deal's impact on global uranium markets and local communities remains to be seen.
