Areva and the state of Niger have signed an agreement renewing their strategic partnership. The agreement renews the mining contracts held by the companies Somaïr and Cominak in the framework of the Nigerien Mining Law of 2006. With current uranium prices not sufficient to allow profitable operation of the Imouraren deposit, the State of Niger and Areva will set up a joint strategic committee which will take a decision on the schedule for the start of mining of the deposit depending on changes in the market.
Areva is the main shareholder of Société des Mines de l’Aïr (Somaïr) and of Compagnie minière d’Akouta (Cominak), which operate two mining sites in the Arlit region. The group is also developing the future Imouraren site, which will be the largest uranium mine in Africa (estimated production of 5,000 t/year for more than 35 years). Areva received the mining permit for the Imouraren mining property in January 2009. The Imouraren SA company was established, with Areva holding a 66.65% share and the State of Niger holding a 33.35% share.