US approves up to $414 million financing for Niger uranium project

The United States has approved as much as $414 million in financing for a uranium project in Niger, in a move that could reshape ties between Washington and Niamey. The debt facility was approved by the US Development Finance Corp for Global Atomic's Dasa project, according to the company. The decision comes two years after the United States agreed to withdraw troops from Niger and at a time when the country is seeking to balance relations with several outside powers.

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Global Atomic says the Dasa project contains what it describes as the highest-grade uranium deposit in Africa. The company said the financing approval was confirmed on Wednesday, while sources briefed on the effort said US Ambassador Kathleen FitzGibbon had urged Washington to rebuild ties with Niger and support the project. One source familiar with discussions involving Global Atomic and the Development Finance Corp said a breakthrough came this summer after chief executive Stephen Roman travelled to Washington to resolve remaining issues.

The investment could improve US access to a strategic uranium supply from Niger, which is the world's seventh-largest uranium producer. It also comes as Niger remains in dispute with French state-backed miner Orano, which long dominated the country's uranium sector. The project is being viewed by those involved as a way to secure access to a resource that could otherwise move closer to rival powers.

The financing decision also has wider geopolitical significance because it follows a sharp shift in Niger's foreign and security relationships since the 2023 coup. In 2024, the United States agreed to withdraw about 1,000 troops after Niger's military government said their presence was illegal, and French soldiers were also ordered to leave in 2023. Niger has since turned to Russia for security support, underscoring the competition among outside powers for influence in the country.

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The Dasa project is also notable in the context of US-Canada relations, which have been strained by a trade war between the two neighbours. Global Atomic is a Canadian miner, and the project could provide a rare positive point in bilateral economic ties. At the same time, the project faces significant security and political risks in Niger, where the operating environment remains unstable.

Those risks were highlighted last month when soldiers launched attacks on a key military airbase, the presidential palace and other sensitive sites in Niamey in an attempted mutiny, according to authorities. Niger later accused France of orchestrating the offensive, which France denied. Global Atomic has also been exploring alternative routes to export uranium from the landlocked country because of security concerns, according to a source briefed on the discussions.

It remains unclear how quickly the financing will translate into project progress, and whether the security and political situation will affect implementation.

#Niger #uranium #GlobalAtomic #USDevelopmentFinanceCorp #Orano

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