ICSID tribunal blocks Niger from selling seized Orano uranium

An arbitral tribunal at the World Bank's International Centre for Settlement of Investment Disputes ruled on 23 September 2025 that Niger may not sell, transfer or facilitate the transfer of uranium produced at the Somaïr mine to any third party while its dispute with French nuclear group Orano proceeds. The provisional measures cover roughly 1,500 tonnes of uranium concentrate held at the mine, which Orano says is worth about $270m at a spot price of $82 a pound.

A dispute rooted in nationalisation

Niger's military government nationalised Somaïr in June 2025, after Orano said in December 2024 that it had lost operational control of the joint venture, which it had run for five decades alongside Niger's state mining company Sopamin. Orano filed for ICSID arbitration in January 2025, arguing the takeover breached its investment rights, and the case is registered as ARB/25/8.

Detained representative also at issue

The tribunal's order went beyond the uranium stockpile: it also called on Niger to comply with a July 2025 ruling by the Niamey Court of Appeal ordering the release of Ibrahim Courmo, an Orano representative who had been detained in the country. The combination of a frozen uranium stockpile and a detained employee underlined how far the dispute had escalated beyond a normal commercial disagreement.

Why it matters for the uranium market

Somaïr has long been a significant source of supply for Orano's French and European utility customers, and the standoff highlights the risk premium now attached to uranium sourced from Niger, previously one of the world's top producers. With Niger's military government pursuing greater state control over the country's mining sector since its 2023 coup, the ICSID order was an early test of whether international arbitration could constrain Niamey's ability to monetise uranium it now controls.

What happens next

The provisional measures do not resolve the underlying dispute over ownership of Somaïr or compensation for Orano. Niger's subsequent moves — including a November 2025 statement of intent to sell uranium internationally regardless of the order — suggest the stand-off over the Somaïr stockpile was far from settled even after the tribunal's ruling.

Sources

• Orano: The ICSID Arbitral Tribunal Opposes the Sale by the State of Niger of Uranium Produced by SOMAIR, 26 Sept 2025
• Global Arbitration Review: French nuclear group secures provisional measures against Niger, 26 Sept 2025

Photo: Somaïr company building in Niamey, Niger. Roland Huziaker, Wikimedia Commons, CC BY-SA 2.0.