Niger nationalises country's only gold mine

Niger's government has announced the nationalisation of the country's sole industrial gold mine, accusing its Australian operator of "serious breaches" as the West African country seeks greater control of natural resources.

Niger, Burkina Faso and Mali have severed relations with many foreign mining companies in recent years, with Niger nationalising the local branch of French uranium giant Orano in June.

Australian group McKinel Resources Limited took control of the Societe des mines du Liptako (SML) gold mine, situated on the bank of the River Niger, in 2019 after purchasing a majority stake from a public firm.

"In view of serious breaches (and) with a view to saving this highly strategic company, the state of Niger has taken the decision to nationalise SML," said an order from Niger’s President General Abdourahamane Tiani, read on state television on Friday.

‘Increased debt’