This, according to GoviEx, has triggered the “arbitration clause” in the Mining Convention signed in 2007 between the company and the past regime, which it says is governed by Nigerien law, and that the revocation of the mine permit constitutes a breach of the state’s obligations under the both the mining and civil codes.
While the company had attempted to settle its dispute with the state amicably, including through initiating a local administrative recourse before the Niger President, the state has shown no willingness to engage and reach an amicable settlement, GoviEx stated in a press release Monday.
The uranium developer also said that the company, alongside its Nigerien subsidiary, is entitled to be reinstated in its rights to the Madaouéla project and/or be awarded monetary compensation as a result of the state’s conduct in relation to the project.
Shares of GoviEx Uranium traded flat on Monday at…
