Orano Confirms the Loss of Operational Control of SOMAÏR in Niger

04 Dec 2024 11:16 CET

Regulatory News:

For several months, Orano has been warning of the interference that the group has been suffering in the governance of SOMAÏR1, of which it is the majority shareholder and operator in Niger. The decisions taken at the company's board meetings are no longer being applied and, as a result, Orano is today confirming that the Nigerien authorities have taken operational control of the company. The production expenses which continue to be incurred on the site are worsening the company's financial situation with every passing day.

In this context, the application of the resolution adopted by the Board of Directors of SOMAÏR on November 12 to suspend expenses related to production activities in order to prioritize the payment of salaries and preserve the integrity of the industrial facilities is being deliberately prevented.

The representatives of Niger are assuming this position that they defended at the Ordinary Meeting of the Board of Directors which was held on Tuesday December 3, 2024, in particular confirming their refusal to export the production.

In this context, Orano expresses its deepest regret regarding the evolving situation which is placing a heavy burden on the employees and local communities.

Orano intends to defend its rights before the competent bodies and reaffirms its belief that only a united effort by all stakeholders to re-establish a stable and sustainable mode of operation can allow SOMAÏR to resume activities in peace.

About Orano
As a recognized international operator in the field of nuclear materials, Orano delivers solutions to address present and future global energy and health challenges. Its expertise and mastery of cutting-edge technologies enable Orano to offer its customers high value-added products and services throughout the entire fuel cycle. Every day, the Orano group’s 17,500 employees draw on their skills, unwavering dedication to safety and constant quest for innovation, with the commitment to develop know-how in the transformation and control of nuclear materials, for the climate and for a healthy and resource-efficient world, now and tomorrow.

Orano, giving nuclear energy its full value.

www.orano.group

1 SOMAÏR's shareholders: Orano 63.4 % - SOPAMIN 36.6 % (State of Niger)

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ORANO

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BusinessWire

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