Uranium: Niger and Canada approve the creation of the company SOMIDA S. A, 80% owned by Global Atomic

The government of Niger and the Canadian company Global Atomic Corporation have signed an agreement for the creation of the Société des Mines de DASA (SOMIDA S. A). The signing ceremony of the statutes and shareholders’ agreement of this new company endowed with a share capital of two (2) billion FCFA held 80% by Global Atomic and 20% for the State of Niger took place held on Wednesday, August 10 at the office of the Minister of Mines, Ms. Ousseini Hadizatou representing the government in the presence of the CEO of Global Atomic Fuels Corporation.


According to the Minister of Mines Mrs. Ousseini Hadizatou Yacouba, the creation of this new company constitutes a new impetus in the exploitation of uranium in Niger. Mrs. Ousseini Hadizatou Yacouba specified that this company had benefited from six (6) research permits in 2007 and 2008. The two permits relating to the perimeters ”Adrar emoles 3 and 4 which it benefited from in 2008 gave reassuring anomalies. “That is to say that something conclusive has been discovered,” said Mrs. Ousseini Hadizatou Yacouba. Following this discovery, the company received, in 2020, an authorization to exploit the discovered deposit. “For us, the feasibility study which can lead to the creation of this new company, is a new hope in relation to the mining sector. This is why the Council of Minister has already given its agreement in 2020 to give a large mining permit called ”In Boukkat” to the company Global Atomic on behalf of this mine,” she explained. .

Nearly 28 billion have already been invested in research according to Minister Hadizatou who adds that an investment of more than 121 billion FCFA will be made for the creation of the new mine for a Net Present Value (VAN) of the project. around 107 billion FCFA with an internal rate of return (IRR) of 22%. The resulting creation of 217 direct permanent jobs will alleviate the unemployment problem that has become a concern with the closure of the COMINAK mine on May 31, 2021. Among other benefits, there will be financial revenue from applicable taxation for an amount of 154 billion, in particular through the annual surface royalty; mining royalties, value added tax (VAT) on services related to administrative operations, profit tax; tax on income from movable capital, income tax payable by national employees, taxes and customs duties on imports after reductions authorized by the regulations, the statistical fee, the apprenticeship tax. There will also be the contribution to the local development of the local authorities in which the company will carry out its activities, by participating in the financing of collective infrastructure and the maintenance of the Tahoua-Arlit Road. With the creation of SOMIDA SA, today is a new era, a new hope that is blowing in the mining sector, particularly in the Agadez region. “. Mrs. Ousseini Hadizatou Yacouba,minister of mines

As for the Chairman and CEO of the Global Atomic Fuels Corporation group, he was delighted with this partnership which led to the creation of SOMIDA. ” We are now ready to undertake the development of a new uranium mine around an exceptional deposit discovered by Global Atomic teams in 2010. pointed out Mr. Stephen G. Roman. He then praised all the efforts made since this discovery while recalling that there is still a lot of work to be done. “And if all goes well, we plan to put the first barrels of yellowcake into production at the beginning of 2025. announced Mr. Stephen G. Roman. According to the CEO of the Global Atomic Fuels Corporation, this new mine called “Dasa” will generate significant economic benefits in the regions of Agadez and Arlit as well as sustainable tax revenues for the Republic of Niger. ” We are now committed and resolutely determined to advance the construction of one of the finest uranium mining projects in the world. “, he concluded.



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