GoviEx Uranium Inc (TSX-V:GXU, OTCQX:GVXXF) is reassuring shareholders about its operations in Niger in response to recent news reports about an alleged audit of the mining sector in the country.
Several news outlets reported earlier this week that Niger's military junta has imposed a temporary suspension on new mining licenses and initiated a sector audit without disclosing specific details, citing the need to understand license holders and implement reforms for increased state profits.
GoviEx, however, has noted that the government’s audit initiative is targeted specifically at addressing issues within the gold sector and does not extend to impact GoviEx and its uranium assets.
The company was in direct communication with the author of the memo mentioned in the press reports, GoviEx told shareholders.
“GoviEx maintains necessary permits for its operations in Niger and is fully compliant with all regulatory standards,” the company said in a statement.
“Furthermore, the company has a strong partnership with the government, reflected in their 20% interest in the company's Madaouela project.”
GoviEx is dedicated to exploring and developing uranium properties in Africa. The company's primary goal is to emerge as a prominent uranium producer by persistently advancing its flagship Madaouela project in Niger and the Muntanga project in Zambia.