Atomic Eagle reclaims Niger’s Madaouela uranium project
A new agreement with the Nigerien government gives Atomic Eagle a 60% interest in the Madaouela project, while the state will retain a 40% stake
Australian company Atomic Eagle has reached an agreement with the Republic of Niger to re-establish its interest in the Madaouela Uranium Project, one of the country’s major undeveloped uranium assets.
Located near the mining town of Arlit in northern Niger, Madaouela contains an estimated 116.5 million pounds of U₃O₈ at an average grade of 1,282 parts per million (ppm).
The agreement marks a significant turn for the project, whose previous permit was cancelled by the Nigerien government in 2024 when it was held by GoviEx Uranium.
In November 2025, GoviEx partnered with Tombador Iron to form Atomic Eagle. The company has now reached a new agreement with the Nigerien government that sets out the terms for moving the disputed project forward.
“Re-establishing our interest in Madaouela represents a transformational outcome for Atomic Eagle significantly increasing our resource base and adding a second advanced uranium project to our project portfolio. Madaouela is a large, high-grade uranium asset supported by an extensive body of historical work, and we see clear opportunities to further define and optimise the Project’s development potential. This agreement has been achieved through constructive engagement with the Government of Niger and delivers a strong, commercially balanced outcome following a period of dispute. I would like to thank Niger’s Minister of Mines, His Excellency Colonel-Commissioner Abarchi Ousmane and his team for sharing our commitment to finding a mutually beneficial solution to the historical dispute,” said Atomic Eagle CEO Phil Hoskins.
Under the terms of the agreement, Atomic Eagle will hold a 60% interest in the project and retain operational control, while the Nigerien government will hold the remaining 40%.
Of the government’s stake, 15% will be free carried, while the remaining 25% will be contributing.
Atomic Eagle has agreed to make two payments linked to the exploitation permit. The company will pay US$5 million within 30 days of the permit being issued, followed by a further US$5 million when construction begins.
The exploitation permit will have an initial 10-year term and can be renewed for successive five-year periods for the life of the mine, subject to applicable requirements.
The agreement brings the project back into Atomic Eagle’s portfolio as the company works towards further technical assessment and development planning for Madaouela.
