Uranium: Production fell to 962 tonnes, but Niger aims to become a global giant again through new mines

Niger is preparing to ramp up its uranium production, driven by mining projects and prices at their highest level in nearly two decades, according to an analysis published on October 5, 2026, by the Agence Ecofin. Long the leading African producer and fourth globally, the country has fallen to eighth place: its production dropped from over 4,000 tonnes in 2015 to 962 tonnes in 2024.

An industry emptied by the market, then taken back in hand

This collapse is primarily due to the market: after the 2011 Fukushima disaster, demand and prices plummeted. The Cominak mine closed as its reserves were depleted. The Azelik site was suspended in 2015 by the China National Nuclear Corporation (CNNC) due to a lack of market outlets, and a protocol signed in 2023 with the Nigerien state has not yet provided a restart schedule. That leaves Somaïr, nationalized in June 2025 and now operated by the state-owned company Tsumco SA following the withdrawal of operational control from the French group Orano: it is currently the country's only active site.

The context has changed radically. In early July 2026, the uranium oxide (U3O8) indicator reached 97 dollars per pound, its highest level in over eighteen years, and remained there in the third quarter, reports Agence Ecofin. Benchmark Mineral Intelligence anticipates a supply deficit of 18% by 2027, and the World Nuclear Association estimates that global nuclear capacity could triple by 2050.

The context has changed radically. In early July 2026, the uranium oxide (U3O8) indicator reached 97 dollars per pound, its highest level in over eighteen years, and remained there in the third quarter, reports Agence Ecofin. Benchmark Mineral Intelligence anticipates a supply deficit of 18% by 2027, and the World Nuclear Association estimates that installed nuclear capacity could triple by 2050 in light of the commitments made by states.

Dasa and Madaouéla on the front line

Two projects carry this hope. Dasa, 80% owned by the Canadian firm Global Atomic and 20% by the Nigerien state, secured 56.9 million Canadian dollars in October 2026; its development plan, built on an assumption of 75 dollars per pound, therefore benefits from an unexpected margin. In January 2026, the company estimated construction costs at 424.6 million dollars, with production expected around 2027 and 68.1 million pounds of uranium over twenty-three years. The Madaouéla project, led by Atomic Eagle, has resumed after a pause of more than two years and the resolution of a dispute with the Nigerien authorities.

What could still cause the gamble to fail

The obstacles are well known: finalizing construction financing and logistical constraints, particularly the closure of the border with Benin, which weighs on export routes. Namibia, which has become the continent's leading producer, is also increasing its volumes. For the Nigeriens, the real question remains less about the tonnage extracted than the share of this revenue that will remain in the country: an industry rebuilt on its own terms would be, on a continental scale, a real-world test of sovereignty over raw materials.