NIGER has doubled its stake in the Madaouela uranium project to 40%, Reuters reported.
This brings an end to a long-running dispute with Australian explorer Atomic Eagle.
Atomic Eagle, formerly GoviEx Uranium, will retain 60% of the project and remain responsible for operations.
Niger awarded the company a permit to develop Madaouela, in the Agadez region, in 2016. But the government revoked the permit in 2024 and returned the project to the state, prompting the company to launch international arbitration proceedings.
The two sides suspended those proceedings in February 2025 while they sought a negotiated settlement and later extended the suspension to allow talks to continue.
Under the new agreement with Niger’s mines ministry, the state’s interest rises from 20% while Atomic Eagle’s stake falls from 80%.
The ministry did not disclose the financial terms of the settlement.
“Niger has prioritized dialogue and negotiation to usher in a new phase based on partnership and development,” the ministry said.
Niger is a major uranium producer and the settlement comes as military-led governments across the Sahel seek greater control over mineral resources and a larger share of mining revenue.
Atomic Eagle did not immediately respond to Reuters’ request for comment.
