US Approves $414 Million for Niger Uranium Project

The United States Development Finance Corp approved up to $414 million in financing for the Dasa uranium project in Niger. Developed by the Canadian miner Global Atomic, the project targets what the company describes as the highest-grade uranium deposit in Africa.

This investment represents a diplomatic and commercial shift for Washington. Relations between the two nations deteriorated following a 2023 coup, which led to the expulsion of U.S. forces from Niger in 2024. By funding the project, the U.S. aims to secure a strategic energy resource and prevent the deposit from falling under the influence of rival powers. This move occurs while Niger remains in a dispute with the French state-backed miner Orano, which is currently in international arbitration after losing control of its mining assets in the country.

Despite the financial approval, the project faces substantial security risks from jihadist attacks and recent military unrest. To mitigate these threats, Global Atomic is exploring alternative export routes, including a potential path through Algeria.