• About 1,500 tons of uranium are stored at SOMAIR amid strong buyer interest.
• A World Bank tribunal has barred Niger from selling the mine’s output in a case with Orano.
• Despite demand from Iran, Russia and Turkey, no official sale has taken place.

Roughly 1,500 tons of uranium are currently stockpiled at SOMAIR in Niger, while interest from buyers remains strong, Reuters reported on September 30, citing French nuclear group Orano. The update comes days after a World Bank arbitration tribunal banned any sale of the mine’s output in the dispute between Niger and Orano, which is fully owned by the French state.

SOMAIR, formerly owned 63.4% by Orano and 36.6% by Niger’s state-owned Sopamin, is the country’s only active uranium mine. Nationalized in June, it is now operated under Sopamin’s supervision. The nationalization stripped Orano of operational control, leading to the ongoing arbitration before the International Centre for Settlement of Investment Disputes (ICSID).

Last week, the tribunal ordered Niamey “not to sell, transfer or facilitate the transfer of uranium produced by SOMAIR.” This decision could complicate Sopamin’s plans to market the uranium, especially as potential buyers include Iran, Russia and Turkey. Ecofin Agency had already reported in May on Russian and Turkish interest, and Iran has now emerged among those cited.

Despite this demand, Reuters noted that no official sale has been made. Niger continues to contest Orano’s role, accusing the company of unfair allocation in its past joint venture with Sopamin. Speaking at the U.N. General Assembly on September 27, Prime Minister Ali Mahaman Lamine Zeine criticized the ICSID ruling, saying France wanted to drag Niger into “endless lawsuits to block exploitation and sales” of its uranium.

Still, Niger may move ahead with a sale in defiance of the ruling. Orano has already warned that it would seek damages or launch legal action, including against “third parties” involved in any unauthorized deal.

With uranium futures at $83 per pound in September, or about $183,000 per ton, the SOMAIR stockpile is worth an estimated $274 million, according to Trading Economics.