Qatar and Iran are actively negotiating with Somali PM Hassan Ali Kheyre, on a multi-million-dollar joint venture to exploit what may be a large uranium deposit in central Somalia. Qatari military team landed in Dusmareb, Somalia July 13, 2019, approximately 300 miles from Mogadishu.
The deal is reported to involve both the Somali government and an Qatar/Iran in an highly unusual tripartite mining consortium that would almost certainly become the largest business in this predominantly cattle raising and banana growing Indian Ocean country, according to informed Somali and Western diplomatic sources.
Somalia currently have estimated 7,600 metro tan of highly enriched Uranium reserved In addition to uranium, international geologists have also discovered Yttrium, a rare and costly mineral which experts say can sell for six times as much as uranium per pound, according to Uranium 2016: Report, Production and Demand, a joint report by the OECD Nuclear Energy Agency and the International Atomic Energy Agency.
Industry sources say the deposits may exceed a quarter of the world’s known reserves of 800,000 tons. Moreover, they said, the uranium lies close to the surface and can permit strip-mining techniques which is far less costly than deep-mining.
In the end, The Western World kept Somalia “untapped” for reasons unknown but western diplomats who spoke with MOL said “They don’t trust Somalia’ no one does” Somalis probably wouldn’t care about sanctions or the US and would probably sell it to Koreans and Iranians without a care in the world.
Jan 2016 Somalia cut diplomatic ties with Iran and ordered all Iranian diplomats and embassy staff out of the country within 72 hours. Somalia accused Iran of trying to destabilize the Horn of Africa nation.
After the election of 2017 of President Mohamed Abdullahi Farmaajo Somalia unofficially resumed diplomatic relations with Iran according to officials with Somali Foreign Minister.