GoviEx and Niger Establish a Roadmap to Address Madouela Dispute

GoviEx Uranium Inc and the Republic of Niger have agreed to suspend arbitration proceedings concerning the Madaouela uranium project, establishing a structured roadmap for negotiations. The agreement, reached during the Mining Indaba conference, underscores efforts for an amicable resolution; however, uncertainties about the final outcome and potential resumption of arbitration persist. GoviEx is also focusing on its Muntanga project in Zambia, targeting production in 2028.

GoviEx Uranium Inc, headquartered in Vancouver, has come to an agreement with the Republic of Niger to suspend ongoing arbitration as discussions concerning a disputed uranium project continue. This agreement was formalized in a letter of intent signed between GoviEx and the Republic, represented by the Minister of Mines, during the Mining Indaba conference in Cape Town earlier this month.

The parties involved have established a “structured roadmap” for what they describe as a “mutually acceptable plan” for negotiations. As part of this initiative, GoviEx has stated that the arbitration proceedings under the ICSID Convention will be paused while continuing discussions within the agreed framework. This suspension will remain effective until a resolution is reached or it is concluded that no settlement is possible.

While the parties are optimistic about the potential for a negotiated outcome, they acknowledge there is no guarantee of reaching a definitive agreement. Should negotiations prove unsuccessful, GoviEx indicated that arbitration proceedings may continue. Currently, GoviEx’s Madaouela project is regarded as one of the world’s most significant uranium resources, boasting extensive mineral estimates but is hindered by the withdrawal of mining rights by the government last July.

In January, GoviEx initiated arbitration proceedings against Niger, arguing that the government breached their legal obligations under a 2007 agreement. The administrative landscape has shifted following a coup d’état in 2023 that also resulted in the withdrawal of permits for French firm Orano’s Imouraren uranium mine. Orano has similarly initiated ICSID proceedings in response to these changes, including actions regarding its operational control over the Arlit mine. GoviEx is concurrently advancing its Muntanga project in Zambia, intending to commence production by 2028.

In summary, an agreement between GoviEx Uranium Inc and the Republic of Niger has led to the temporary suspension of arbitration proceedings related to the Madaouela uranium project. The establishment of a structured roadmap for negotiations signifies ongoing efforts to resolve disputes amicably. Nevertheless, uncertainties remain regarding the outcome of these discussions, and the potential for arbitration to resume exists should a resolution be unattainable. Meanwhile, GoviEx is also progressing with the development of its Muntanga project in Zambia with aspirations for production by 2028.

Original Source: world-nuclear-news.org