Niger Suspends Issuing New Mining Licenses 

Niger has temporarily suspended the granting of new mining licences and will begin an audit of the sector.

In a statement by Global Atomic Corporation, a Canadian uranium company, the mining ministry also said it will take stock of existing mining licences to combat illegal trafficking on the country’s minerals as it seeks to boost government revenue.

Niger’s mining sector is dominated by uranium, which accounts for about 40% of its exports. The country also has significant reserves of gold, iron, coal and oil. However, the sector has been plagued by security challenges, environmental issues and social conflicts.

The government has been trying to diversify its mining portfolio and attract more foreign investment. In July 2020, Niger adopted a 15-year national mining policy that aims to increase the value-added of its mineral resources and promote local development.

The suspension of new mining permits and the audit of the sector will go along way to implement the policy and improve transparency and accountability.

Niger is a member of the Extractive Industries Transparency Initiative (EITI), a global standard for good governance of oil, gas and mineral resources.

The mining ministry said that the moratorium and the audit will last for six months, during which it will consult with all stakeholders, including mining companies, civil society and local communities.

It also said that it will respect the existing mining contracts and ensure the continuity of mining operations.

It happens at a time when the country announced it has cut ties with ECOWAS, a 15-stste member bloc in what it termed lack of good will to handle insecurity in the country.

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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