Orano reported a notable increase in net profits to €633 million in 2024, up from €217 million in 2023, despite operational setbacks in Niger. CEO Nicolas Maes highlighted that the year would be remembered for its exceptional financial performance, while acknowledging the difficulties faced due to losing control over subsidiaries like Somair, Cominak, and Imouraren. This loss stemmed from Nigerien governmental interference, but was somewhat mitigated by rising uranium prices and positive exchange rate effects. Orano maintains active mining operations in Canada and Kazakhstan and has initiated a major investment project in Mongolia.
2024 will go down as a special year with exceptional financial results, despite the company’s challenges in Niger, according to CEO Nicolas Maes.
Despite losing control over its subsidiaries in Niger, Orano's net profits rose to €633 million, thanks to increased uranium prices and favorable exchange rates.
The challenges stemming from the interference of Nigerien authorities impacted Orano operationally, yet the company still reported strong financial performance due to external market factors.
Orano capitalizes on global uranium market dynamics while mitigating losses from Niger through operations in Canada and Kazakhstan, alongside a significant new investment in Mongolia.
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