Orano SA, a French state-owned enterprise, is contemplating the reactivation of its uranium mining project in Namibia following a rebound in uranium prices and an uptick in demand for nuclear-fuel services, according to CEO Nicolas Maes.
Market conditions have been advantageous for Orano’s financial performance, with rising atomic output in nations like China, as well as changes in US policy toward Russian uranium-enrichment services, playing a major role.
Orano reported a near tripling of its net income last year, driven by favorable contracts and strong performance across their traditional service sectors. In an effort to further capitalize on positive market dynamics, Orano is also planning movements in other regions, such as potential developments in Canada and Uzbekistan.
This diversification comes at a time when the global uranium mining industry has faced various setbacks, including production disruptions. Significantly, the company has had to deal with operational hurdles in Niger, as political changes led to halted operations and export bans, resulting in stored yellowcake valued around EUR250 million.
Data highlights that the import value for uranium ores and concentrates in France witnessed a sharp decline from USD 50.2 K in 2023 to USD 9.7 K in 2024. Examining the sources, Canada led the charts in 2024 with an import value of USD 4.2 K, followed by Portugal at USD 3.6 K and Italy at USD 1.3 K. The drop in import value indicates shifting patterns in uranium supply and geopolitical influences affecting France’s uranium market. Indexbox