US seals big uranium investment in Niger, two years after troops left
The financing could strengthen U.S. access to a strategic uranium supply as Niger’s ruling junta deepens ties with Russia and disputes with Orano continue.
- On Wednesday, the International Development Finance Corporation approved up to $414 million in financing for Canadian miner Global Atomic's Dasa uranium project in Niger, marking a significant commercial re-entry two years after The United States withdrew troops.
- The Trump administration prioritized the investment to secure strategic uranium reserves and prevent rival powers from gaining influence in Niger, according to sources familiar with the deal.
- Chief Executive Stephen Roman traveled to Washington this summer to resolve financing hurdles, securing the breakthrough while Niger remains locked in a separate dispute with French state-backed miner Orano.
- Global Atomic faces significant security risks from Jihadist attacks, which have repeatedly targeted the Niamey government, forcing the company to explore alternative export routes across the Sahara Desert.
- This project provides a rare positive development in strained US-Canada relations, though Niger continues to rely on Russian paramilitaries for security and maintains improving ties with neighboring Algeria.
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US seals big uranium investment in Niger, two years after troops left
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US seals big uranium investment in Niger, two years after troops left
By Jessica Donati DAKAR, Sept 17 (Reuters) - The US government has approved up to $414 million in financing for a uranium project in Niger, according to the project's developer, in what sources described as a win for Washington two years after the West...
US Approves $414m Financing For Niger Uranium Project
The United States government has approved up to $414.2m in financing for a uranium project in Niger, according to the Canadian company developing the mine. The US International Development Finance Corporation (DFC) approved the debt facility for Global Atomic Corporation’s Dasa uranium project, the company said. The approval was announced on Wednesday, September 16, 2026, […] US Approves $414m Financing For Niger Uranium Project is first publish…
Global Atomic Gets DFC Approval for US$414.2 Million Dasa Uranium Loan
Global Atomic (TSX: GLO) has cleared a major step in financing its Dasa uranium project in Niger. The board of the U.S. International Development Finance Corporation (DFC) has approved a debt facility of up to US$414.2 million. The approval doesn’t release any money yet. Signing the facility and drawing on it both depend on “several […]
Global Atomic Corp. (TSX:GLO) - Re-Rating Expected as DFC Approves up to US$414.2M Debt - Research Portal
Global Atomic (GLO), our top uranium developer pick, announced that the Board of the US International Development Finance Corporation (DFC) has approved a 10+ year debt facility of up to US$414.2M for Dasa in Niger. This is the news the market has been waiting for since the US$295M facility was first flagged in 2024, and at US$414.2M, sits comfortably above the funding gap we assumed in our DCF model. It may signal that Capex has climbed over the time it took to arrange the deal, but more importantly, it also likely removes the partial asset sale scenario that had increasingly been highlighted as plan B this year. The conditions are real. Evidence of an export route is a logistical issue more than anything; the Mining Convention extension may bring fiscal stability and royalty terms with it; government assurances would let GLO move funds out of the country to service the debt; and the DFC warrant adds unknown dilution. Pre-halt, GLO traded at 0.20x P/NAV against a peer group at ~0.72x on our NAVPS of $3.12, a gap that widened as the market discounted the debt package to zero. This approval removes the reason for that discount to exist and as expected, the stock surged (+45%) when trading resumed. We expect the stock to continue its re-rating on this news, and re-iterate that Global Atomic remains our top uranium developer pick.
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