US DFC Approves Up to $414.2 Million Financing to Support Niger's Dasa Uranium Mine

en.Wedoany.com Reported - On September 16, the board of the U.S. International Development Finance Corporation (DFC) approved up to $414.2 million in debt financing for the Dasa uranium mine project in Niger, owned by Canada's Global Atomic. The financing will support the construction of the Dasa underground mine, surface processing facilities, and related infrastructure.

The Dasa project is located in the Tim Mersoï Basin in the Agadez region of Niger and is being developed by Société Minière de Dasa (SOMIDA), in which Global Atomic holds an 80% interest and the Government of Niger holds a 20% interest. The project obtained its mining license in 2020 and commenced underground mine development in November 2022. Construction is currently underway on underground infrastructure including the decline, development headings, ventilation, power, and dewatering systems.

According to Global Atomic's latest project materials, the revised mine plan for Dasa is expected to operate for approximately 23 years, with planned cumulative production of approximately 68.1 million pounds of U₃O₈. The project's ore reserves have an average grade of approximately 4,113 ppm, with indicated resources of approximately 183 million pounds of U₃O₈ and inferred resources of approximately 99 million pounds of U₃O₈.

The project's surface processing facilities are advancing in parallel. The EPCM contractor is completing the final detailed design of the ore sorting and processing plant and procuring the remaining equipment. Major equipment such as the sulfuric acid plant has been manufactured and shipped to the project site.

The total budget for the Dasa project is approximately $556 million. As of the end of June 2026, approximately $228.1 million had been invested in the project, with remaining capital expenditure of approximately $327.9 million. The financing approved by DFC can also cover a portion of construction-period interest, financing costs, and related project expenditures.

The DFC financing documents specify that, prior to loan disbursement, the following conditions must be satisfied: securing the uranium product export route, adjusting the mining convention and mining license term, approval by the Government of Niger for loan repayment, a government direct agreement, and execution of final loan documents.

Global Atomic currently plans to commence commercial production at Dasa in the second half of 2028. Both the project's underground mine and surface processing facilities are in the construction phase.