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EU’s Euratom Agency Confident in Uranium Supply Stability Following Niger Coup

by Richie
08/01/2023
in Global Trade, Trade Policies

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The European Union’s nuclear agency, Euratom, has stated that the EU’s nuclear power production faces no immediate risks in the event of a disruption in uranium deliveries from Niger following the country’s recent military coup. Euratom informed Reuters that the bloc possesses sufficient uranium inventories to fuel its nuclear reactors for up to three years.

Euratom’s assessment suggests that even if imports from Niger were to be halted, there would be no short-term risks to the security of nuclear power production in the EU. Additionally, Adalbert Jahnz, a spokesperson for the European Commission, expressed confidence in the medium- and long-term availability of uranium deposits on the global market to meet EU needs.

Niger, home to some of the world’s largest uranium deposits, is a significant supplier for the nuclear industry. French company Orano, operating a major uranium mine in Niger, reported that the coup had not impacted its uranium supply deliveries.

In 2022, Niger provided the EU with 2,975 tonnes of natural uranium, accounting for 25.4 percent of the EU’s supplies. The largest supplier was Kazakhstan, followed by Canada. Combined, Kazakhstan, Niger, and Canada supplied 74 percent of the EU’s total uranium.

Euratom noted that the natural uranium equivalent in inventories owned by EU utilities in 2022 amounted to 35,710 tonnes, compared to an average annual consumption of about 12,500 tonnes. The agency also mentioned that the EU could diversify its uranium imports within three years, including sourcing from currently inactive sites in Canada, Australia, and Namibia, as well as from new deposits.

The military coup in Niger, which saw the overthrow of President Mohamed Bazoum and his elected government, has led to concerns among Western allies about losing influence in the Sahel region to Russia. In response to the situation, France has initiated efforts to evacuate its citizens and those from other EU countries.

While the United States, Germany, and Italy have troops in Niger for training missions and counter-terrorism operations, there have been no announcements regarding their evacuation. Following the coup, there have been demonstrations against foreign influence, with some locals expressing a desire for non-intervention in their affairs.

The Kremlin has expressed serious concern about the situation in Niger and called for a swift return to constitutional order. Yevgeny Prigozhin, head of Russia’s Wagner mercenary group, praised the coup as a step towards independence from the West and offered his forces to help restore order.

Your source for supply chain report news updates: The Supply Chain Report. For international trade insights and tools, head to ADAMftd.com.

#Euratom #NuclearPower #UraniumSupply #EUEnergySecurity #Orano #NigerCoup #NigerUranium #GlobalUraniumMarket #France #Russia #WagnerGroup #UraniumImports #EUUtilities #EnergyDiversification #Kazakhstan #Canada #Australia #Namibia #EUCommission #AdalbertJahnz #SahelRegion #EUEnergyStrategy #NigerCrisis

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