The French nuclear fuel company reported a loss of 133 million euros for the first half of the year, according to the results released on Friday. This is in sharp contrast to the first quarter of 2023, when the company recorded a net profit of 117 million euros.

This year, however, the company is facing significant challenges. One major setback came in June, when Niger’s government revoked the company’s rights to the Imouraren mine, which is considered the largest in the world, with an estimated reserve of 200,000 tons of uranium.

Moreover, Somair, a subsidiary 63% owned by the company, is encountering difficulties in exporting uranium from its Arlit operations in northern Niger. These challenges stem from an export ban imposed by the military government in Niamey, which has held power for the past year.

In response to these obstacles, the company was compelled to sell off its uranium production, which was originally earmarked to fund the closure of the site.