Key facts
- The US government approved up to $414 million in financing for a uranium project in Niger.
- The financing is for Canadian miner Global Atomic's Dasa project.
The US government has approved up to $414 million in financing for Global Atomic's Dasa uranium project in Niger, two years after expelling US forces. The investment aims to secure a strategic uranium supply amid Niger's dispute with French miner Orano and its reliance on Russian security.
The US investment in Niger's uranium sector aims to secure a critical energy resource amid geopolitical shifts and competition from rival powers, while also navigating significant security and logistical challenges in the region.
The US government has approved up to $414 million in financing for Global Atomic's Dasa uranium project in Niger, a move seen as a diplomatic and commercial win for Washington two years after the West African nation expelled US forces. The US Development Finance Corp's debt facility supports the Dasa project, described by Global Atomic as Africa's highest-grade uranium deposit.
This investment aims to bolster US access to strategic uranium supplies at a time when Niger, the world's seventh-largest uranium producer, is engaged in a dispute with French state-backed miner Orano, which has historically dominated the country's uranium sector. The financing is viewed by sources familiar with the matter as a significant breakthrough for Washington, particularly following the 2023 coup that led to the expulsion of US forces in 2024 and Niger's subsequent reliance on Russian paramilitaries for security.
Sources indicated that the US ambassador had advocated for rebuilding ties with Niger and supporting the project, aligning with a renewed US emphasis on African engagement. The project is seen as an opportunity to secure a critical energy resource that might otherwise fall under the influence of rival powers. A key development occurred this summer when Global Atomic CEO Stephen Roman traveled to Washington to finalize approval.
Despite the financing commitment, the project faces considerable security and political risks, including ongoing jihadist attacks and logistical challenges for exporting uranium from the landlocked country. Global Atomic is exploring alternative export routes, potentially through Algeria. Uranium was added to the US critical minerals list last year, increasing interest in Niger's reserves, which are also entangled in a dispute between the Nigerien government and Orano.