The parties entered into a 10-year deal in May for the company’s Somair and Cominak mines; however, the latest approval paves way for its implementation, reported Reuters.
The previous agreement, which was expired on 31 December, required extension for some time.
To attain the approval, Areva has agreed to fewer tax breaks and higher royalty rates as well as construct road to its mines in Arlit with an investment of $148m.
In addition, the company agreed to spend on a local development project, and establish new headquarters in Niamey.
Earlier this year, Niger mines minister said that the government expects over $39m in additional tax revenues each year.
