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How a uranium mine became a pawn in the row between Niger and France

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In the latest sign of a dramatic deterioration in relations, Niger’s military rulers appear increasingly determined to drive France out of any significant sector in their economy – and particularly uranium mining.
This week the French state nuclear company Orano announced that the junta – which deposed France’s ally, President Mohamed Bazoum, in a coup in July 2023 – had taken operational control of its local mining firm, Somaïr.
The company’s efforts to resume exports have for months been blocked by the regime and it is being pushed into financial crisis.
And the impact could be felt more widely – although Niger accounts for less than 5% of the uranium produced globally, in 2022 it accounted for a quarter of the supply to nuclear power plants across Europe.
So the timing could hardly be more awkward, as Western countries struggle to meet the challenge of climate change and cut their carbon emissions from electricity generation.
For French President Emmanuel Macron, already wrestling with political crisis at home, the potential departure of Orano from Niger is certainly awkward in image terms.
For it coincides with bruising news from other long-standing African partners – Chad has suddenly announced the ending of a defence agreement with Paris, while Senegal has confirmed its insistence on the eventual closure of the French military base in Dakar.
But in any case, the crisis facing Orano in Niger represents a significant practical challenge for French energy supply.
With 18 nuclear plants, totalling 56 reactors, which generate almost 65% of its electricity, France has been ahead of the game in containing carbon emissions from the power sector.
But the country’s own limited production of uranium ended more than 20 years ago.
So, over the past decade or so, it has imported almost 90,000 tonnes – a fifth of which has come from Niger. Only Kazakhstan – which accounts for 45% of global output – was a more important source of supply.

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A billion laser points helped bring Notre Dame back to life

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After a catastrophic fire five years ago, the Notre Dame Cathedral de Paris reopened this month looking almost the same as it did when it was first constructed in 1163.

The massive reconstruction project was a testament not just to the hard work of the French people – but also to the lasers, drones and other advanced technology that gave rebuilders a window into the building’s past.

“The time frame wouldn’t have been possible without the record of what existed,” Amy Bunszel, executive vice president of architecture, engineering and construction at 3D-software company Autodesk, told CNN. Her company was a major part of creating a model of the building as it existed before the fire, giving the reconstruction effort a sort of guide for what to do. “It would’ve required a lot more guesswork. Imagine taking millions of tourist photographs (as a reference point) versus having one consolidated perfect representation.”

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Inflation was the cause, not the result, of the ‘hot’ labor market, research shows

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Back in 2022, when the labor market was so hot that Beyoncé even released a song about it, Americans were job hopping in large numbers, boosting their salary in the process.

The Great Resignation was in full swing.

That fueled fears of a “wage-price spiral” — where wages and prices perpetually rise and feed off each other.

But what appeared to be a hot job market was actually a symptom — not the cause — of the recent bout of inflation, according to new research that explored the consequences of unexpected rising prices on the labor market.

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The Container Store files for bankruptcy

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The Container Store has filed for bankruptcy. It is the latest well-known retailer to fall victim to customers cutting back on discretionary spending.

The 46-year-old company said in a statement late Sunday that filing for Chapter 11 bankruptcy protection will help it “bolster its financial position, fuel growth initiatives, and drive enhanced long-term profitability.” The Container Store revealed in court documents that it has about $230 million in debt and just $11.8 million in cash on hand, but will receive $40 million in fresh financing.

The chain’s 102 locations and website will remain open for orders during the process, which is expected to take 35 days to complete.

“The Container Store is here to stay,” said CEO Satish Malhotra in a statement. “Our strategy is sound, and we believe the steps we are taking today will allow us to continue to advance our business, deepen customer relationships, expand our reach, and strengthen our capabilities.”

Payments to vendors and suppliers will be made as normal and all customer deposits and orders will be honored and delivered, the company said. The Container Store plans to emerge as a private company when the Chapter 11 process is complete.

The company’s Sweden-based Elfa brand, described as a “premium customizable storage system,” isn’t included in the bankruptcy.

The filing comes a few weeks after a deal with Beyond, the parent company of Bed Bath & Beyond and Overstock.com. The Container Store was expected bring Bed Bath & Beyond-branded products to some stores, but that deal appears to be in jeopardy. Beyond previously said that the financing deal was in doubt because the Container Store was struggling to reach an agreement with its lenders.

The Container Store’s stock has already been delisted by the New York Stock Exchange because it failed to meet the exchange’s financial standards.

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