Niger to award 100 exploration permits to ramp up uranium industry

Niger to award 100 exploration permits to ramp up uranium industry
By Jon Nones (Resource Investor)
10 Jan 2008 at 04:03 PM

Niger Energy and Mines Minister Mamadou Abdulahi said on Thursday that the country will award 100 mining exploration permits over the next two years and at least seven oil exploration licences in 2008 as it seeks foreign investment.

State-controlled French utility Areva has enjoyed a monopoly on production of uranium in Niger for some 40 years. In recent years, the government has issued a slew of new exploration licences in an effort to diversify the uranium sector. Bayswater Uranium [TSX-V:BAY] and NWT Uranium [OTCBB:NWURF; TSX-V:NWT] are two juniors exploring in the region.

Niger is Africa’s biggest producer of uranium, and the fourth largest uranium producer in the world, trailing only Canada, Australia and Kazakhstan. The country produced 3,434 tonnes of uranium last year.

Niger also has estimated oil reserves of some 350 million barrels and the minister said the poor landlocked country was also keen to attract good quality investors.