US approves $414M uranium investment in Niger, two years after troops left | Business and Economy News

Investment could mark a turning point in US-Niger and US-Canada relations.

The United States government has signed off on as much as $414m in financing for a uranium project in Niger, according to the project’s developer, two years after Washington agreed to withdraw troops from the African country.

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

The investment could bolster US access to a strategic uranium supply at a time when Niger, the world’s seventh-largest uranium producer, is locked in a dispute with French state-backed miner Orano, which long dominated the country’s uranium sector.

Sources briefed on the effort said US Ambassador Kathleen FitzGibbon had urged Washington to rebuild ties with Niger and back the project after the Trump administration took office with a renewed emphasis on deal-making in Africa.

In 2024, the United States agreed to withdraw about 1,000 troops after the military government, which took control of Niger in a coup in 2023, deemed their presence “illegal” and turned to Russia for security support. French soldiers were also ordered to leave in 2023.

The project was seen as an opportunity to secure access to a strategic energy resource that might otherwise fall into the orbit of rival powers, the sources said.

One source familiar with discussions involving Global Atomic and the Development Finance Corp said a breakthrough came this summer when chief executive Stephen Roman travelled to Washington to resolve remaining issues holding up approval.

The project could also provide a rare bright spot in US-Canada relations, which have come under strain amid a trade war between the neighbours.

Niger’s government did not respond to Reuters’ request for comment.

The project faces significant security and political risks.

Last month, a group of soldiers launched attacks on a key military airbase, the presidential palace and other sensitive sites in the capital, Niamey, in an attempted mutiny, authorities said.

Niger later accused France of orchestrating the offensive, which it denied.

Global Atomic has been exploring alternative routes to export uranium from the landlocked country due to the security risks, a source briefed on discussions said.

One idea has been to invest in a route north through Algeria and across the Sahara Desert.

Algeria sent aircraft to Niger last month to help the government respond to the attempted coup, indicating strengthening ties between the neighbouring countries.

Uranium was added to the US critical minerals list last year, prompting renewed interest in Niger’s reserves.