GoviEx holds week-long talks in Niamey over Madaouela uranium restart

A delegation from GoviEx Uranium spent a week in Niamey in June 2026 holding technical and legal discussions with Niger's Ministry of Mines aimed at drafting a new mining convention to govern a possible resumption of the Madaouela uranium project. Niger's government confirmed the talks but stressed that any agreements remained non-binding and incomplete pending further negotiation.

From revocation to roadmap

Niger's military-led government revoked GoviEx's mining permit for Madaouela in July 2024, citing the company's alleged failure to meet development conditions. GoviEx responded by launching ICSID arbitration in December 2024, arguing the withdrawal breached its rights under Niger's mining code and its original convention. Rather than letting the case run its full course, the two sides signed a letter of intent at the Mining Indaba conference in February 2025, agreeing a “structured roadmap” toward a negotiated settlement, and extended a pause in the arbitration in September 2025 to allow talks to continue until March 2026.

A resource worth fighting over

Madaouela ranks among the world's larger undeveloped uranium resources, with measured and indicated resources of 100-million pounds of U3O8 and a post-tax net present value estimated at $376m at a uranium price of $80 a pound. That scale explains why both sides have preferred negotiation over a prolonged legal fight: Niger needs investment and expertise to develop the deposit, while GoviEx needs a functioning convention to attract project financing.

Why it matters for Niger's uranium sector

The Madaouela talks form part of a broader pattern in Niger, where the government has simultaneously nationalised Orano's Somaïr mine, created new state uranium companies, and now negotiated with a junior developer whose permit it once cancelled. The contrast suggests Niamey is willing to deal with foreign uranium companies on its own terms, rather than close the sector to outside investment altogether.

What happens next

A new convention would need to satisfy both Niger's push for greater state benefit from its mineral resources and GoviEx's need for fiscal and legal certainty to raise construction finance. Investors will be watching for whether the June 2026 talks produce a signed convention before the extended arbitration pause lapses.

Sources

• bne IntelliNews: GoviEx, Niger extend arbitration pause on Madaouela uranium project valued at $376mn, 19 Jun 2026
• World Nuclear News: GoviEx, Niger agree roadmap to resolve Madaouela dispute, 19 Feb 2025

Photo: Landscape in Niger, home to the Madaouela uranium project. Coordenação-Geral de Observação da Terra/INPE, Wikimedia Commons, CC BY-SA 2.0.