Niger increased its stake in the Madaouela uranium project to 40% from 20%, bringing an end to its dispute with Australian explorer Atomic Eagle (ASX: AEU), the West African country’s mining ministry said on Wednesday.
Niger is a major uranium producer. In 2016, it awarded a permit to exploit uranium at the Madaouela project located in the Agadez region to Atomic Eagle, formerly named GoviEx.
In 2024, Niger revoked the miner’s permit for the Madaouela uranium project and returned the asset to the state, prompting the company to file for international arbitration.
The parties agreed in February 2025 to suspend the proceedings while pursuing a negotiated settlement and, in September 2025, extended the pause by a further six months to allow talks to continue, Atomic Eagle said.
According to the new agreement that was signed with the mines ministry, Atomic Eagle, which is responsible for operational oversight, will now hold 60% of the project, down from 80%.
Atomic Eagle did not immediately respond to a request for comment.
“Niger has prioritized dialogue and negotiation to usher in a new phase based on partnership and development,” a statement from the mines ministry said, without detailing the terms.
Military-led governments across the Sahel region are trying to assert more control over their resources in a bid to generate more revenue.
(Reporting by Niger Newsroom; Writing by Anait Miridzhanian; Editing by Maxwell Adombila and Thomas Derpinghaus)
