The Military government of Niger has corrected the price of uranium paid by France.

According to a report published in The Spectacle Niger—a prominent player in the global uranium market—has made a daring decision and increased the price of uranium from €0.80/kg to €200/kg.

According to the World Nuclear Association (WNA), Niger is the world's seventh-biggest producer of uranium and Niger was the second-largest supplier of natural uranium to the European Union in 2022.

This decision is expected to boost the Niger’s economy and the global uranium market.

France, historically Niger's primary uranium buyer, and bought uranium from Niger at the rate of €0.80 per kilogram. Ironically, on the other hand, France bought similar uranium from Canada at a price of €200/kg.

Wake up Africa

A LinkedIn user, Aamir Ahsan Khan, highlighted and termed France buying uranium at a cheaper price as daylight robbery.

He urged African countries not let their resources be utilized by foreign countries—France.

He claimed that the colonial pact of France and neo-colonialism of the West and East are violating the fundamental human rights of Africans who live in poverty in Africa.

He said: “For more than 60 years France paid less than 99.96% of the market price.”

Paying €0.4/Kg instead of €200/Kg is same as taking Uranium for free.

It has been alleged that French companies that mine uranium in Niger do not pay taxes in Niger, in other words, Niger did not earn from the sale of ore and from the profits of mining companies.

As per the estimates, France imported around 17,640 Tons of Uranium per year from Niger in the last 10 years, paying €1,411,200 per year when it should have paid €352,800,000.

The report claimed that France owes Niger around €351,388,800 per year or €3,513,888,000 for Uranium over the last 10 years.

There is a general sentiment among Niger’s intelligentsia that France should be demanded to compensate Niger for the balance, in the pattern of Germany being pressured to compensate Poland for the Nazi occupation.

The experts termed the increase of uranium per kg price as the economic viability, fair market pricing and a potential chance for Niger can diversify its economic portfolio beyond uranium mining.

The decision is expected to open untapped avenues between France-Niger Relations and the global Uranium market.

How much of France uranium comes from Niger?

Niger, is one of France's top three uranium suppliers. Over the last 10 years, the 88,200 tonnes of natural uranium imported into France came mainly from three countries: Kazakhstan (27%), Niger (20%), and Uzbekistan (19%).

Fact Check: Niger’s not banned Uranium export to France

According to Reuters Fact Check, Niger did not halt uranium exports to France and other countries of the European Union following a military coup in July, despite a post on social media claiming Niger banned sending supplies to the bloc.