Niger Raises Uranium Price From €0.80/kg to €200/kg - In a groundbreaking development that signals a seismic shift in the global resource market, Niger, a prominent player in the uranium industry, has reportedly taken a bold step towards securing fair compensation for its invaluable natural resource, uranium. Multiple reports suggest that Niger has substantially increased the price of its uranium, skyrocketing it from a mere €0.80 per kilogram to €200 per kilogram.
This remarkable decision underscores a burgeoning determination among African nations to break free from historical imbalances and demand equitable remuneration for their vital contributions to the global economy.
According to the World Nuclear Association (WNA), Niger is the world's seventh-largest uranium producer. The radioactive metal is the most widely used fuel for nuclear energy. It is also utilised in cancer treatment, naval propulsion, and nuclear weapons.
Uranium prices increased slightly in the aftermath of the military coup in Niger that saw the ousting of President Mohamed Bazoum, with many analysts forecasting larger gains in the future. For instance, Ben Godwin, head of analysis at London-based Prism Political Risk Management, said that current events in Niger, which produces about 4 percent of the world’s uranium supply, could be critical to Europe.“It is certainly a topic of great interest in the moment, particularly as uranium markets are very, very tight at the moment,” he said. “Demand has been going up over the last few years, and this year, we’ve seen the uranium spot price go up by nearly 40 percent year to date.”