Global Atomic says U.S. lender's board approved conditional facility of up to US$414.2 million for Dasa
Global Atomic says a U.S. development bank's board approved up to US$414.2 million for its Dasa uranium project in Niger, subject to open conditions.
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Board approval is a step toward the money, with the conditions still open. Several of them need government sign-off rather than company action, so the timing sits partly outside Global Atomic's hands. Watch the loan terms, still unset, and a production date that has slipped from early 2026 to the second half of 2028.
Toronto-based Global Atomic Corporation said on September 16 that the board of the U.S. International Development Finance Corporation, or DFC, approved a debt facility of up to US$414,200,000 for its Dasa uranium project in Niger.
The company said entry into the facility and any disbursement depend on material conditions, with no assurance they will be resolved: a route to export yellowcake, an extended mining convention and permit, assurances on approvals for loan repayments, a direct agreement with Niger’s government, and definitive loan documentation. The company said warrant terms will be set before closing, and the release gives no interest rate, tenor or repayment schedule.
DFC’s release that day notes backing for a critical minerals project in West Africa, without naming Global Atomic, Dasa or Niger.
In October 2024 the company said a U.S. development bank intended to approve US$295 million, covering 60 per cent of planned project costs, and that Dasa was scheduled to reach commercial production in early 2026. Chief executive Stephen G. Roman now puts commercial production in the second half of 2028.
Sources
- Global Atomic: Global Atomic announces Dasa uranium project financing updateprimary source · Published
- Global Atomic: Global Atomic provides update on the Dasa projectsecondary source · Published
- U.S. International Development Finance Corporation: DFC Announces More Than $8 Billion in Investments to Fuel American Economic and National Security Interestssecondary source · Published