Global Atomic said it anticipates securing a project financing loan from a US development bank by early in the first quarter of 2025 to advance its Dasa uranium project in Niger.
The Canada-based company reported that in recent discussions, the bank confirmed its intention to approve a $295m (€271m) debt facility, which would cover 60% of the project’s projected costs.
Dasa is the highest-grade uranium deposit in Africa, surpassed only by grades found in Canada’s Athabasca Basin, and is scheduled to achieve commercial production in early 2026.
“The approval timelines outlined by the bank support yellowcake deliveries in 2026 as anticipated in the four offtake agreements we have in place with American and European nuclear power utilities,” said Global Atomic president and chief executive officer Stephen Roman.