Last week, Niger experienced a coup that resulted in the detention of the democratically elected president and the rise of rebellious soldiers to power. One of the concerns raised by this coup was the potential impact on the supply of uranium to European countries, particularly France, which heavily relies on Niger for its uranium supply. However, European agencies are downplaying these concerns and assuring that there are sufficient uranium inventories to last a few years.
Niger is a major supplier of uranium to France and the European Union, accounting for more than a quarter of the EU's uranium supply in 2022. While Niger only represents about 5% of global uranium production, it plays a significant role in fueling nuclear reactors in Europe.
The junta in Niger reportedly announced the immediate suspension of uranium exports to France, raising fears of a potential shortage. However, Euratom, the EU's nuclear agency, has stated that there are no immediate risks to nuclear power production in the EU. It claims that there are enough uranium inventories to fuel EU nuclear power reactors for three years.
French officials have also dismissed concerns about the coup's impact on France's uranium supply, stating that France is not dependent on any specific source or country for its uranium needs. They assert that the situation in Niger poses no risk to France's security of supply.
Additionally, Orano, a French nuclear firm operating a uranium mine in Niger, has stated that the coup has not affected the delivery of uranium supplies so far.
EU officials have tried to reassure the public by stating that EU utilities have enough inventories of natural uranium to mitigate short-term supply risks. They also claim that there are sufficient uranium deposits on the world market to meet the EU's needs in the medium and long term.
It is worth noting that the EU's dependency on uranium could impact its ability to adopt nuclear sanctions against Russia. Currently, uranium and nuclear power are not subject to EU sanctions, but if the supply from Niger decreases, EU countries may need to look elsewhere for supply. Russia, one of the largest uranium exporters, could potentially fulfill this demand.
The situation in Niger is further complicated by Russia's Wagner Group's involvement. The U.S. and France have supported Niger in its fight against insurgencies, while other countries in the region, such as Mali and Burkina Faso, have turned to the Wagner Group for support. If the coup leaders in Niger accept Wagner's offer of support, it could potentially affect the supply of uranium to the EU.
Overall, while the coup in Niger has raised concerns about the supply of uranium to European countries, European agencies and officials are downplaying these concerns and assuring that there are adequate inventories to meet the demand for the next few years.