Orano Initiates a Second Arbitration Procedure Vis à Vis the State of Niger Following the Loss of Operational Control Over SOMAÏR

21 Jan 2025 16:18 CET

Regulatory News:

Orano is lodging a second arbitration procedure vis à vis the State of Niger in order to assert its rights following the loss of operational control of SOMAÏR. The Group has filed its request for arbitration with the International Centre for Settlement of Investment Disputes (ICSID).

This litigation is now Orano's last possible recourse, after several attempts at amicable resolution have gone unanswered.

The State of Niger's obstruction of the commercialization of production, as well as the suppression of Orano's offtake rights, have only aggravated SOMAÏR's financial situation and the prejudice suffered by Orano. The worsening situation led the group to recognize the loss of operational control of SOMAÏR on December 4, 2024.

In this context, Orano, the majority shareholder, plans to claim damages and assert its rights over the inventory corresponding to SOMAÏR's production. Orano also reserves the right to initiate any and all proceedings, including against third parties, in the event of preemption of the material in violation of its offtake rights.

This action follows an initial request for arbitration filed on December 20, 2024 against the State of Niger concerning the withdrawal of its mining license for IMOURAREN.

Orano expresses its deepest regret regarding the evolution of the situation and the position of the State of Niger, which weigh heavily on the employees of the group's mining subsidiaries and on local communities.

About Orano
As a recognized international leading 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.

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ORANO

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BusinessWire

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