Company acknowledges ‘difficult conditions’ at Niger project, but targets 2028 for production
Global Atomic said it continues to be actively engaged with a US development bank regarding a debt facility for the Dasa project in Niger and is making progress at the site despite “difficult conditions”.
The Canada-based company said it is also in discussions with potential joint venture partners to acquire a minority interest in the Dasa project.
The company is pursuing other funding options which may be required to finance any gap between approval and release of funds by the development bank or potential JV partner, Global Atomic said in an announcement with its second quarter 2026 results on 13 August.
“Although financing delays have pushed the projected production of yellowcake to the second half of 2028, the financing approval process is progressing,” said Global Atomic president and chief executive officer Stephen Roman. “We are confident a positive outcome will be achieved.”
Roman said: “Our relationship with the Niger government was further strengthened following the positive May 2026 Dasa site visit by the government’s representatives on our Somida board of directors.
“Recent discussions regarding transportation alternatives with regional governments are expected to open one or more uranium export routes and improve existing import timeliness and costs.”
Roman said contractors at the site have completed sufficient groundwork that the steel erection team can begin the installation of processing equipment.
Somida (Société Minière de Dasa) is Global Atomic’s subsidiary in Niger. Somida is owned 80% by Global Atomic and 20% by the Nigerien government.
In May 2026 Global Atomic said it had secured renewed political backing from Niger’s military-led government for the Dasa project.
The company said that members of its executive team, led by Roman, met Niger president General Abdourahamane Tiani, prime minister Ali Lamine Zeine and mines minister Ousmane Abarchi during a visit to Niger.
Following the meetings, Tiani issued a letter of support to Global Atomic in which he described Dasa as “a major strategic investment” for Niger due to its expected contribution to employment, infrastructure and mineral-resource development.
The Nigerien president also instructed ministries and government agencies to support the project “in a spirit of a balanced and mutually beneficial partnership,” according to the company.
Major Setbacks For Other Uranium Companies
While the Nigerien government has pledged its support for the Dasa project, other uranium developers in Niger faced major setbacks in recent years.
In June 2024, the miltary junta, which came to power following a coup in July 2023, revoked the operating licence of French company Orano at the Imouraren mine, which sits on one of the biggest uranium deposits in the world.
In July 2024, Canada-based GoviEx Uranium said the junta had withdrawn its licence for the Madaouela uranium mine, dealing a major blow to the development of one of the world’s largest uranium projects.
In December 2025 Niger’s military regime announced it was putting uranium produced by Somair – a subsidiary of French nuclear fuel cycle company Orano before the African nation’s rulers nationalised it in June – on the international market.
