The US Development Finance Corp approved up to $414.2-million in debt financing for Global Atomic's Dasa uranium project in Niger on 16 September 2026, marking a diplomatic and commercial breakthrough for Washington two years after Niamey expelled US forces.

The DFC Board of Directors approved the facility for the Canadian miner's project, which the company describes as the highest-grade uranium deposit in Africa. Global Atomic announced the decision the same day.

"Today's announcement is a significant milestone for the Company, and we thank the U.S. Development Finance Corporation for their support. The Dasa Uranium Mine is the largest highest-grade uranium mine in Africa and is scheduled to begin commercial production H2 2028. The Company has entered into uranium off-take agreements representing 11% of the current mine plan and has completed underground development down to the ore zone," Roman said.

The financing could bolster US access to strategic uranium supply at a time when Niger, the world's seventh-largest uranium producer, is locked in a dispute with French state-backed miner Orano, which long dominated the country's uranium sector.

The investment is being viewed by people familiar with the matter as a win for Washington, whose relations with Niger deteriorated after the military government that seized power in a 2023 coup ordered US forces to leave in 2024.

Niamey's new leaders have relied on Russian paramilitaries for security instead of the West.

Sources briefed on the effort said the US ambassador had urged Washington to rebuild ties with Niamey and back the project after the Trump administration took office with a renewed emphasis on deal-making in Africa. The project was seen as an opportunity to secure access to a strategic energy resource that might otherwise fall into the orbit of rival powers.

One source familiar with discussions involving Global Atomic and the DFC said a breakthrough came this summer when Roman travelled to Washington to resolve remaining issues holding up approval.

Niger's government has demonstrated support for the project. In May 2026, President Abdourahamane Tiani issued a letter describing Dasa as "a major strategic investment" for Niger due to its expected contribution to employment, and instructed ministries and government agencies to support the project "in a spirit of a balanced and mutually beneficial partnership." Prime Minister Ali Mahamane Lamine Zeine met with Global Atomic's president in Niamey on 13 May 2026 to discuss the project's progress.

Dasa is expected to produce 68.1 million pounds of U₃O₈ over an estimated 23-year operating life. Commercial uranium production is scheduled for the second half of 2028. Underground development has been completed down to the ore zone.

Several material conditions must still be met before funds can be disbursed. These include identifying a viable export route for yellowcake, extending the Project Mining Convention and Mining Permit, receiving satisfactory assurances regarding governmental approvals for loan repayments, and negotiating a direct agreement with the government of Niger.

Security and logistical risks persist

Despite the financing commitment, the project faces significant security and political risks. Jihadist attacks have repeatedly targeted Niger's government and security forces over the past year. Last month, mutinous soldiers attacked a key military airbase and the presidency.

Global Atomic has been exploring alternative routes to export uranium from the landlocked country as transport corridors to the coast have become increasingly risky, a source briefed on discussions said. One idea has been to invest in a route north through Algeria and across the Sahara Desert. Algeria sent aircraft to Niger this summer to help the government respond to the latest coup attempt, underscoring improving ties between the neighbouring countries.

Uranium was added to the US critical minerals list last year, prompting renewed interest in Niger's reserves. Those reserves include uranium stockpiles caught up in a dispute between Niger's government and Orano, which has launched international arbitration proceedings after losing control of key mining assets in the country.