US Approves $414M Uranium Investment in Niger Despite Past Troop Withdrawal

The United States government has authorized up to $414m in financing for a uranium project in Niger, as reported by the project’s developer, coming two years after Washington agreed to withdraw its troops from the African nation.

The US Development Finance Corp approved the debt facility for Canadian miner Global Atomic’s Dasa project. According to a company statement released on Wednesday, the initiative is described as the highest-grade uranium deposit in Africa.

This investment aims to strengthen US access to a strategic uranium supply. The move arrives as Niger, recognized as the world’s seventh-largest uranium producer, remains involved in a dispute with French state-backed miner Orano, which historically dominated the nation's uranium sector.

Sources familiar with the matter revealed that US Ambassador Kathleen FitzGibbon encouraged Washington to re-establish ties with Niger and support the project following a renewed focus on diplomacy and commerce in Africa. In 2024, the United States agreed to withdraw approximately 1,000 troops after Niger's military government, established via a 2023 coup, classified the American military presence as "illegal" and sought security assistance from Russia. French soldiers had similarly been ordered to depart in 2023.

Supporters of the deal viewed the project as a vital opportunity to secure access to an essential energy resource before it could be influenced by rival powers. One source close to discussions involving Global Atomic and the Development Finance Corp noted that a critical breakthrough occurred over the summer when chief executive Stephen Roman traveled to Washington to resolve remaining obstacles.

Additionally, the project could serve as a positive development for US-Canada relations, which have recently faced pressure due to a trade dispute between the neighboring nations. The government of Niger did not issue a response to Reuters’ request for comment.

Despite the financial backing, the project confronts notable security and political challenges. Authorities reported that last month, a faction of soldiers carried out an attempted mutiny, attacking a key military airbase, the presidential palace, and other sensitive locations in the capital city of Niamey. Subsequently, Niger accused France of orchestrating the offensive, an allegation that France denied.

A source briefed on the talks mentioned that Global Atomic is actively exploring alternative export pathways for its uranium out of the landlocked country due to ongoing security concerns. One proposed solution involves investing in a northern transit route through Algeria and across the Sahara Desert. Signaling tightening relations between the neighboring countries, Algeria dispatched aircraft to Niger last month to assist the government in managing the aftermath of the attempted coup.

Uranium was officially designated as a US critical mineral last year, which has further catalyzed renewed interest in the vast reserves located in Niger.