US Backs Niger Uranium Mine With $414 Million Financing Deal

The U.S. government has approved a significant financing package for a uranium project in Niger, signaling a major diplomatic and commercial effort to re-engage with the nation two years after it expelled all American military forces.

According to a statement released Wednesday by Canadian developer Global Atomic, the U.S. Development Finance Corp. (DFC) approved a debt facility of up to $414 million for the company's Dasa project.

A Strategic Investment

The Dasa project is described by Global Atomic as the highest-grade uranium deposit in Africa. The DFC's investment is viewed by sources familiar with the matter as a breakthrough for Washington, which has sought to mend relations with Niger's military government that seized power in a 2023 coup.

This financing could bolster U.S. access to a key energy resource at a critical time. Uranium was added to the U.S. critical minerals list last year, and Niger, the world's seventh-largest producer, is currently in a dispute with the French state-backed miner Orano, which has historically dominated its uranium sector.

Geopolitical Context

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Following the 2023 coup, Niger's new leadership ordered U.S. forces to leave in 2024 and has increasingly relied on Russian paramilitaries for security. According to sources briefed on the matter, U.S. diplomats have been urging Washington to rebuild ties with Niamey, viewing the Dasa project as an opportunity to secure a strategic resource that might otherwise fall into the orbit of rival powers.

The deal comes as Niger's government is in international arbitration with France's Orano after losing control of key mining assets. The U.S. financing provides a new Western partner for the country's pivotal uranium industry.

Security and Logistical Hurdles

Despite the financial commitment, the project faces considerable operational risks. The region has been subject to repeated jihadist attacks over the past year, and a recent mutiny by soldiers targeted a key military airbase and the presidency.

As a landlocked country, Niger also presents logistical challenges. A source briefed on the discussions said Global Atomic has been exploring alternative export routes due to increasing risks on transport corridors to coastal ports. One potential option involves establishing a new route north through Algeria, whose government has recently improved its ties with Niamey.