The French nuclear fuel specialist reported a loss of 133 million euros for the first half of the year, a sharp decline from the 117 million euros net profit in Q1 2023.
The company’s difficulties this year include Niger’s decision in June to revoke its rights to the Imouraren mine, the world’s largest with estimated reserves of 200,000 tons.
Additionally, its subsidiary Somair, which is 63% owned by Orano, is facing issues exporting uranium from its Arlit operations in northern Niger due to an export ban imposed by the military government in Niamey.
As a result, the company had to sell its uranium production, which was initially intended to finance the site’s closure.