The French firm noted that the agreement lays down the terms and conditions for buying uranium produced by the Cominak and Somair mines for the next two years and provides for a price increase of around 50% in order to reflect the recent rise of long-term prices.
Areva said that it has also received government agreement to launch mining at the Imouraren deposit and to extend its exploration scope, thus confirming its role as a mine operator in Niger for the coming decades.
With a planned investment of over E1 billion, the Imouraren site will reportedly constitute the biggest industrial mining project ever under consideration in Niger, with almost 5,000 tons of uranium produced annually.
Areva said that it will continue to provide aid to help develop Niger in the fields of health, education, training and access to water and energy for local communities.
