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Last week, a coup in Niger has shaken the political landscape, leading to the detention of the democratically elected president and the rise of rebellious soldiers to power. The coup’s ripple effects are casting a shadow of uncertainty over the uranium supply, which Niger provides to European countries, particularly France.

Amidst concerns of potential disruptions to uranium shipments, European agencies are working to alleviate fears by assuring that there are ample uranium reserves to last for several years. While Niger only contributes about 5% of global uranium production, it plays a pivotal role in fueling nuclear reactors across Europe.

Niger’s significance in the uranium market becomes evident when considering that it accounted for over a quarter of the European Union’s uranium supply in 2022. However, the junta’s announcement of an immediate suspension of uranium exports to France has sparked worries about possible shortages. Despite this, Euratom, the EU’s nuclear agency, remains steadfast in its assertion that there are no immediate threats to nuclear power production within the EU. It emphasizes the availability of enough uranium to sustain the EU’s nuclear reactors for a span of three years.

French officials have joined the chorus of reassurance, stating that the coup’s impact on France’s uranium supply is negligible. According to them, France’s uranium requirements are not tied to any particular source or nation, ensuring that the situation in Niger does not compromise the nation’s security of supply.

Additionally, French nuclear firm Orano, operating a uranium mine in Niger, attests that the coup has not disrupted the delivery of uranium supplies so far.

EU officials have taken steps to allay public concerns by highlighting the preparedness of EU utilities, which possess substantial natural uranium reserves to counter short-term supply risks. They also affirm the presence of adequate uranium reserves worldwide to meet the EU’s medium and long-term demands.

It is crucial to note that the EU’s dependence on uranium could potentially impact its ability to impose nuclear sanctions against Russia. While uranium and nuclear power currently elude EU sanctions, any reduction in supply from Niger might prompt EU nations to seek alternatives. Russia, a significant uranium exporter, could potentially step in to meet this demand.

The situation in Niger becomes more intricate due to the involvement of Russia’s Wagner Group. While the U.S. and France support Niger in its fight against insurgencies, neighboring countries like Mali and Burkina Faso have sought support from the Wagner Group. If the coup leaders in Niger accept Wagner’s assistance, it could potentially disrupt the uranium supply to the EU.

In summary, the recent coup in Niger has ignited concerns about the uranium supply to European nations. European agencies and officials, however, are working to downplay these apprehensions by emphasizing the availability of sufficient uranium inventories to meet demand in the coming years.

Source: The Press Rundown