Niger has increased its stake in the Madaouela uranium project to 40% under a new mining agreement aimed at reviving the northern project and attracting fresh investment into the country’s uranium sector. The agreement, signed in Niamey on September 23, gives Atomic Eagle a 60% interest and operational control, while the Nigerien state holds the remaining 40%. The deal also includes a $10 million initial payment to the government and commitments to strengthen mining administration and support local development.
The agreement follows a dispute over the Madaouela I mining permit, which returned to state control in July 2024. Niger’s government approved the permit’s reassignment to Madaouela Mining Company (MAMICO) in August 2026, opening the way for the project’s revival. Atomic Eagle says the new framework provides the legal and financial basis for advancing Madaouela and securing project financing. The company plans to move toward development while retaining operational control.
The move comes as Niger seeks to expand state participation in its mineral resources while attracting international capital. In a separate development, the U.S. International Development Finance Corporation approved financing of up to $414.2 million for Global Atomic’s Dasa uranium project in Niger, subject to several conditions, including arrangements for exporting uranium from the site. Together, the developments highlight Niger’s attempt to secure a larger economic role in its uranium industry while continuing to rely on foreign investment and technical expertise to develop major mining projects.
