Signature of a Strategic Partnership Agreement between the State of Niger and AREVA

  Signature of a Strategic Partnership Agreement between the State of Niger
  and AREVA

Business Wire

PARIS -- May 26, 2014

Regulatory News:

Today, on May 26, 2014, in Niamey, Messrs. Omar Hamidou Tchania, Minister of
State, Minister of Mines and Industrial Development of Niger, Gilles Baillet,
Minister of Finance of Niger, and Luc Oursel, President and Chief Executive
Officer of AREVA (Paris:AREVA), signed an agreement renewing the strategic
partnership between the State of Niger and AREVA.

The agreement enshrines the renewal of the mining contracts held by the
companies SOMAÏR and COMINAK in the framework of the Nigerien Mining Law of
2006. The two parties to the agreement will take the necessary measures to
ensure the financial and economic profitability of these ventures and to
prioritize the preservation of jobs.

The State of Niger and AREVA have agreed to appoint Managing Directors of
Nigerien nationality to the boards of SOMAÏR and COMINAK, in 2014 and 2016
respectively, which represents a major step forward for Niger in terms of its
involvement in the governance of these companies.

With current uranium prices not sufficient to allow profitable operation of
the Imouraren deposit, the State of Niger and AREVA will set up a joint
strategic committee which will take a decision on the schedule for the start
of mining of the deposit depending on changes in the market.

AREVA will provide its financial support for local development and
infrastructure projects:

  *funding for the Tahoua-Arlit route amounting to 90 million euros (approx.
    60 billion CFA francs);
  *the construction of a building worth 10 million euros (6.5 billion CFA
    francs) to house the mining companies, and which shall be the property of
  *measures to accelerate the development of the Irhazer valley worth 17
    million euros (11 billion CFA francs).

Upon signing the agreement, Luc Oursel, President and CEO of AREVA, stated:
“In the context of a difficult uranium market, AREVA and the State of Niger
have succeeded in reaching a balanced and sustainable agreement to pursue
their historic partnership. I commend this agreement which commits the
partners over the long term and affirms the major place held by Niger in the
global uranium industry. I am particularly pleased for Niger and for AREVA.”

The Nigerien Minister of State, Omar Hamidou Tchiana, speaking on behalf of
the Government of the Republic of Niger, congratulated the negotiating teams
for “their commitment over the past few months, working together in a spirit
of mutual respect and complete understanding”. He welcomed the signature of
this agreement, which finally marks the establishment of a "balanced
partnership" as desired by the President of Niger Issoufou Mahamadou.


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