Niger and Atomic Eagle Settle Dispute Over Madaouela Uranium Project
- Niger doubled its stake in the Madaouela uranium project to 40% under a new agreement with the Mines Ministry, ending a long-running dispute with Australian explorer Atomic Eagle.
- The relationship between the Nigerien government and the mining company deteriorated in 2024 when officials revoked the project's mining permit and returned the asset to state control.
- The settlement arrives as military-led governments across the Sahel region push for greater control over their natural resources and larger shares of mining revenues.
Niger doubled its stake in the Madaouela uranium project to 40% under a new agreement with the Mines Ministry, ending a long-running dispute with Australian explorer Atomic Eagle. The settlement allows Atomic Eagle, formerly known as GoviEx Uranium, to retain a 60% interest and stay responsible for operational oversight of the Agadez region development, according to Reuters and Miningmx reporting.
Dispute Resolution and Arbitration Suspension
The relationship between the Nigerien government and the mining company deteriorated in 2024 when officials revoked the project’s mining permit and returned the asset to state control. In response to the revocation, Atomic Eagle launched international arbitration proceedings against the government. Both sides agreed in February 2025 to suspend the legal proceedings to pursue a negotiated settlement, later extending that suspension by six months in September 2025 to allow talks to continue. Under the newly finalized terms, the state’s financial interest in Madaouela rises from 20% to 40%, while Atomic Eagle’s stake drops from 80% to 60%. Neither the Mines Ministry nor the mining company disclosed the specific financial terms of the settlement. The Mines Ministry stated that Niger prioritized dialogue and negotiation to usher in a new phase based on partnership and development, noting that the agreement reflects its preference for negotiation.
Broader Sahel Mining Shifts
The settlement arrives as military-led governments across the Sahel region push for greater control over their natural resources and larger shares of mining revenues. Niger operates as a major global uranium producer, making the Madaouela project strategically vital to its domestic mining sector and economic strategy. Regional governments have increasingly sought to renegotiate existing mining arrangements to increase state participation in projects involving valuable mineral deposits. Atomic Eagle did not immediately respond to Reuters requests for comment following the announcement of the agreement.
