The United States Government has approved up to $414 million in financing for a uranium project in Niger, according to the project’s developer, Global Atomic, in a move that could strengthen Washington’s access to a strategic mineral.
The US Development Finance Corporation (DFC) approved the debt facility for Canadian mining company Global Atomic’s Dasa uranium project, which the company describes as Africa’s highest-grade uranium deposit.
The financing comes two years after Niger’s military government ordered US forces to leave the country following a 2023 coup that severely strained relations between Washington and Niamey.
Niger is the world’s seventh-largest uranium producer and is currently embroiled in a dispute with French state-backed mining company Orano, which has long dominated the country’s uranium sector.
People familiar with the matter described the US financing as a diplomatic and commercial breakthrough for Washington, as Niger’s military leaders have turned to Russian paramilitaries for security support since the departure of Western forces.
Sources briefed on the initiative said the US ambassador had encouraged Washington to rebuild relations with Niamey and support the Dasa project after the administration of President Donald Trump renewed its focus on commercial deal-making in Africa.
They said the project offered an opportunity to secure access to a strategic energy resource that could otherwise come under the influence of rival powers.
A source familiar with discussions involving Global Atomic and the DFC said a breakthrough was reached this summer after the company’s Chief Executive, Stephen Roman, travelled to Washington to address outstanding issues delaying approval.
The project could also improve economic ties between the United States and Canada, which have faced tensions amid a trade dispute between the two countries.
Niger’s government did not respond to a request for comment.
Security, Logistical Challenges
Despite the financing commitment, the Dasa project faces significant security and political challenges.
Jihadist attacks have repeatedly targeted Niger’s government and security forces over the past year, while mutinous soldiers attacked a key military airbase and the presidency in the capital, Niamey, last month.
Global Atomic has also been exploring alternative routes for exporting uranium from the landlocked country, as transport corridors to the coast have become increasingly risky, according to a source briefed on the discussions.
One proposal involves developing a northern route through Algeria and across the Sahara Desert.
Algeria deployed aircraft to Niger this summer to help the government respond to the latest coup attempt, highlighting improving relations between the neighbouring countries.
Uranium was added to the US critical minerals list last year, increasing interest in Niger’s reserves.
Those reserves include uranium stockpiles at the centre of the dispute between Niger’s government and Orano, which has initiated international arbitration proceedings after losing control of key mining assets in the country.
