European companies in Niger interested in lithium, gold and uranium
According to ActuNiger information portal editor-in-chief Aboubacar Yacouba Barma, Niger is very rich in various natural resources.
European investors are interested in Niger’s rich natural resources, which includes lithium and gold in addition to uranium and oil. Aboubacar Yacouba Barma, editor-in-chief of the well-known information portal in Niger ActuNiger, said this in an interview.
“Niger is very rich in various natural resources. Recently, numerous European investors have come to the country thanks to the reform of legislation in the field of mining and despite problems in the field of security,” the source said.
“In addition to uranium and oil, European countries are showing great interest in lithium, which is one of the most sought-after metals in the global industry, actively used in production of batteries for mobile phones, cars and much more. The Niger authorities signed agreements with a number of companies a few months ago, including European ones for the exploration and development of lithium deposits, the reserves of which were found in some parts of the country, including in the “zone of three borders” (territories on the borders of Niger, Mali and Burkina Faso ),” Barma went on.
“Niger also has significant gold reserves. Currently, it is mined mainly by artisanal methods. But the situation is changing. After the reform of legislation in the field of mining, permits were issued to foreign companies, primarily European ones, to develop gold deposits. This attracts investment to Niger, as the EU-Niger business forum held in Niamey in February 2023 clearly showed,” Barma said.
“It is also worth noting the presence of bauxite reserves in Niger, they are available in several regions of the republic at once. There are also many other resources and minerals that European investors are focused on. Niger is a very large country in terms of territory, its area exceeds 1.2 million square kilometers,” the expert emphasized.
Private sector is biding time
“The events that are taking place in Niger will certainly affect ongoing projects, and investors will have to revise their strategies and plans in accordance with the development of the situation. However, if the authorities of some European countries have suspended cooperation with Niger, this does not necessarily apply to companies and investors from these countries. They have taken a wait-and-see approach, but at the same time, we are not observing a wave of statements or the departure of European companies already present in Niger, because the private sector does not necessarily follow political logic,” the expert explained.
“There has been a lot of investment in Niger’s extractive industries, so the work continues. For example, the French uranium mining company Orano continues its work in the country. Companies and investors, both European and others, have studied political risks and continue to include them, as well as security risks into their business plans to be able to better predict and manage crises of any kind,” Barma concluded.
In late July, a group of military rebels in Niger announced the ouster of President Mohamed Bazoum. They then established the National Council for the Safeguarding of the Country, headed by General Abdourahmane Tchiani, to run the country. Leaders of the ECOWAS countries slapped harsh sanctions on Niger and demanded that the mutinous soldier release Bazoum, or face the use of force.
Ivorian President Alassane Ouattara said upon returning from the ECOWAS summit in Abuja on August 10 that the leaders of the group’s member countries had agreed to start a military operation in Niger as soon as possible.
