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2 clusters · 11 sources · 3 days · First seen · Last updated

US financing for Niger uranium mining

Overview

The United States International Development Finance Corporation (DFC) has approved a debt facility of up to $414.2 million for the Dasa uranium project in Niger. Developed by the Canadian company Global Atomic through the Société Minière de Dasa (SOMIDA)—which is 80% owned by Global Atomic and 20% by the Nigerien state—the project involves some of the highest-grade uranium deposits in Africa.

While the approval is a significant milestone, the disbursement of funds remains conditional. Requirements include establishing viable export routes for the uranium concentrate, as the previously planned 2,000-kilometer route through Benin to the port of Cotonou is currently unavailable. Furthermore, the Nigerien government must extend mining conventions and operating permits under terms compatible with DFC financing and provide loan repayment guarantees.

Underground work has been underway since November 2022, and the company anticipates that commercial production could begin in the second half of 2028.

Entities

Global Atomic · U.S. International Development Finance Corporation · Niger · Dasa Project · Stephen Roman

Timeline

  1. [BUSINESS] 3 sources
    United States approves $414 million for Niger uranium project

    The U.S. DFC has approved $414.2 million in potential financing for Global Atomic’s Dasa uranium project in Niger, aiming for production by 2028 pending export route and regulatory conditions.

  2. [BUSINESS] 8 sources
    United States approves $414 million for Niger uranium project

    The U.S. International Development Finance Corporation has approved up to $414.2 million in conditional financing for Global Atomic’s Dasa uranium project in Niger.

Sources

afrikmag.com · algerie360.com · burkina24.com · businesstechafrica.co.za · connectionivoirienne.net · guinafnews.org · horonyafinance.com · impact.sn · mining.com · nasuba.info · notiziegeopolitiche.net