Canadian Uranium Miner’s Shares Slump After Niger Revokes Permit
- Niger has also withdrawn French company Orano’s mining license
- Russia is seeking to acquire mines in the West African nation
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GoviEx Uranium Inc., a Canadian company that mines in Niger, plunged after reporting that the West African nation’s military leaders withdrew its permit.
Shares of GoviEx, which has operated in Niger since 2007, crashed 35% in Toronto on Thursday, the biggest drop in more than eight years. The decline came after the government sent the company a letter saying it “no longer has the rights over the perimeter of the Madaouela mining permit.”