Mining

North America Gains Ground as Favored Buyer of African Uranium

North America Gains Ground as Favored Buyer of African Uranium
Thursday, 10 April 2025 12:49

Over the past decade, Africa’s first and second-largest uranium producers, Namibia and Niger, exported most of their output to China and France. However, new producers, like Mauritania, are now emerging, resulting in the diversification of the buyers’ pool.

Lotus Resources, the Australian mining company, will sell 600,000 pounds of uranium from its Kayelekera mine in Namibia to a North American firm. Lotus announced having inked the sales deal on April 7, 2025.

Adding this deal, Lotus has secured contracts for 3.8 million pounds of uranium to be delivered starting in 2026. Most of these agreements involve North American companies, except Curzon Uranium, a London-based trader with US clients.

Lotus is not the only one tapping into the northern American demand. Other producers, also active in Africa, are leveraging the opportunity. These include Global Atomic, a Canadian firm active in Niger (on the Dasa project), and Aura Energy (which owns the Tiris project in Mauritania).

These developments reflect a shift from China and France’s dominance in the sector. According to the IFRI, China purchased 80% of Namibia’s uranium production in 2020, while France accounted for 12% and Canada just 3%. Until 2023, France was Niger’s top uranium buyer.

Since Niger’s coup in July 2023, French company Orano has not been able to export uranium to France, after it lost operational control of Niger’s only uranium mine. The government also revoked rights to another project not yet in production. The situation is not likely to improve.

The current shift in primary buyers of African uranium shows that the continent–and this industry in particular–is impacted by global commercial interests and geopolitics. For now, however, it is unclear how this shift will impact uranium prices and government revenues.

This article was initially published in French by Emiliano Tossou

Edited in English by Ola Schad Akinocho

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