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Military Coup in Niger - How will it affect U pric

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Niger is the world's third largest uranium producer, after Canada and Australia. Uranium accounts for the bulk of foreign earnings in Niger and represented 70% of export revenues in 1997. Niger has two main uranium producing areas, the Arlit and Akouta situated in the north of Niger. French uranium company, Cogema operates both mining concerns. Niger has estimated resources and reserves of over 53 000 t of uranium, producing 3,076 t of uranium in 2002 Production costs are high and uranium products are purchased under special agreements between the Niger government and customers France and Japan, who effectively subsidise the operation. Due to the location of these areas, nearly all of the production is either transported by air/road to Cotonou in Benin.
The Arlit mine in the Air Massif is owned by Société des Mines de l’Aïr (SOMAIR) which has a joint venture with ONAREM (the state owned mineral resources company), Cogema, CFM, Pechiney uranium and Urangesellschaft. Reserves are estimated at containing 34 500 t of uranium and has an installed capacity of 1400 t/year.
The Akouta mine is situated 6km to the south of the Arlit operation. Cie. Minière D’Akouta (COMINAK) owns the mine, a joint venture between Cogema, ONAREM, Overseas Uranium Resources development (OURD) of Japan and the Spanish company, Empresa National del Uranio (10 %). Reserves are estimated at 52 000 t of uranium and has a capacity to produce 2000 t/ year.LINK

Work begins on Niger uranium mine

Areva's Anne Lauvergnon and Niger's Mamadou Tandja attended a ceremony
Work on what will become the world's second largest uranium mine has begun in the west African state of Niger.
After it opens in three years' time the $1.5bn (£1bn) mine is expected to yield 5,000 tonnes of uranium per year.
French nuclear energy company Areva is building the mine and will take a majority share in it.
Niger is one of the world's poorest countries and the export of uranium provides one of its few sources of foreign currency.
The open pit mine at Imouraren will employ 1,400 people and more than double Niger's current uranium exports.
The mine is in the north of Niger, home to the semi-nomadic Tuareg people.
Rebel groups
For the past two years armed rebel groups from the region have been fighting the government for a greater share of Niger's uranium wealth.
Niger's President Mamadou Tandja made his first trip to the north since the rebellion started to lay the first stone at the mine, and on Sunday evening he met rebel leaders in the town of Agadez.
The president promised an amnesty to those who laid down their weapons.LINK
URANIUM FORECAST TO 2020 (NIGER INCLUDED)

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