US approves $414M uranium investment in Niger, two years after troops left

The U.S. Development Finance Corp. has approved a debt facility of up to $414 million for the Dasa uranium project in Niger, according to a statement from Global Atomic, the Canadian company developing the site. Global Atomic describes Dasa as Africa’s highest-grade uranium deposit; the financing decision follows a series of diplomatic and security shifts in Niger since a 2023 coup.

Sources familiar with the effort said U.S. Ambassador Kathleen FitzGibbon urged Washington to support the project as part of rebuilding ties with Niger, and that a breakthrough occurred this summer after CEO Stephen Roman visited Washington to resolve outstanding issues with the Development Finance Corp. Observers noted the project may also ease tensions in U.S.-Canada relations by providing a cooperative economic engagement.

The investment arrives amid broader geopolitical competition over Niger’s uranium. Niger is the world’s seventh-largest producer of uranium and has been in a dispute with French state-backed miner Orano, which long dominated the country’s sector. U.S. interest increased after uranium was added to the U.S. critical minerals list last year.

Security and political risks persist. Authorities said a group of soldiers launched attacks on key sites in Niamey last month in an attempted mutiny; Niger later accused France of orchestrating the offensive, a claim Paris denied. Global Atomic has been exploring alternative export routes from the landlocked country, including a northern corridor through Algeria, which recently provided aircraft to help Niger respond to the attempted coup. Niger’s government did not respond to Reuters when asked for comment on the financing.