The US approves $414 million for Niger’s uranium project, two years after American troops withdrew from the West African country.
The United States has approved a debt facility of up to $414.2 million for Global Atomic’s Dasa uranium project in Niger, two years after US troops withdrew from the West African country.
The financing was approved by the US International Development Finance Corporation (DFC) for the Canadian mining company, according to Global Atomic.
The company describes Dasa as the highest-grade uranium deposit in Africa. The project is being developed through Global Atomic’s Nigerien subsidiary, Société Minière de Dasa (SOMIDA).
Global Atomic owns 80 percent of SOMIDA, while the Nigerien government holds the remaining 20 percent.
The financing could support US access to uranium, a strategically important mineral, as Washington seeks to strengthen critical mineral supply chains.
Niger remains one of the world’s major uranium-producing countries and is undergoing significant changes in its mining sector, including a dispute between the Nigerien authorities and French state-backed mining company Orano.
Relations between Washington and Niamey deteriorated after Niger’s military authorities, who came to power following the July 2023 coup, ordered US forces to leave the country in 2024.
The military government has since deepened its security cooperation with Russia, while Niger has moved away from some of its longstanding partnerships with Western countries.
People familiar with the discussions said US officials had supported renewed commercial engagement with Niger and backed the Dasa project as Washington sought greater economic opportunities in Africa.
Global Atomic Chief Executive Stephen Roman travelled to Washington earlier this year as discussions continued over outstanding issues surrounding the financing, according to people familiar with the process.
However, the approval does not mean the funds have been fully disbursed. Global Atomic said several conditions must still be met before the financing can be drawn.
These include securing a viable export route for yellowcake, extending the project’s mining permits and reaching agreements with the Nigerien government.
The landlocked project also faces logistical challenges, with security risks affecting transport routes across the region. Global Atomic has been examining alternative corridors for transporting uranium from Niger to international markets.
Security remains a major concern, as jihadist violence continues to affect parts of Niger and political instability has complicated the operating environment for foreign investors.
The DFC financing comes as uranium receives increased attention in the United States because of its importance to nuclear energy and strategic supply chains.
Global Atomic said commercial production at the Dasa project is scheduled to begin in the second half of 2028.
