Canadian uranium producer Global Atomic has announced that the US International Development Finance Corporation (DFC) has approved financing of up to USD414m for its uranium project in Niger (Global Atomic press release, 18/09/2026). “The board of directors of the US International Development Finance Corporation (DFC) approved a project financing for the Dasa Project of up to USD414.2m, comprising a Term Loan Facility of up to USD397.4m and a Cost Overrun Facility of USD16.8m”, stated the company.
According to Global Atomic, the Dasa project, located in the uranium-rich Tim Mersoï Basin in the Agadez Region, is the highest-grade uranium deposit in Africa. It is operated by SOMIDA, a Niger-based company that is owned 80% by Global Atomic and 20% by the Niger Government. “Nuclear power is now a cornerstone of the energy mix in many countries which delivers low carbon base load electrical power and supports energy sovereignty”, said the firm. The construction phase is expected to be completed in the first half of 2028, with commissioning planned for the second half of 2028.
In 2024, Niger held the world’s 9th-largest recoverable uranium reserves, estimated at 31.7 kt, while its uranium resources ranked 8th globally, at 487 kt (Enerdata Global Energy Research). The inclusion of uranium on the US critical minerals list in 2025 has renewed interest in Niger’s uranium reserves. Relations between the US and Niger deteriorated after the military government that took power in the 2023 coup ordered US forces to withdraw from the country in 2024. Nevertheless, the project is viewed by the US administration as an opportunity to secure access to a strategic energy resource.