The US government has approved up to $414 million in financing for a uranium project in Niger, marking a strategic shift two years after the West African nation expelled all US forces. The deal supports Canadian miner Global Atomic's Dasa project.

The US Development Finance Corp (DFC) approved the debt facility for the Dasa project, which Global Atomic describes as the highest-grade uranium deposit in Africa. This investment aims to bolster US access to strategic uranium supplies while Niger remains locked in a dispute with French state-backed miner Orano.

Strategic Context

Niger is the world's seventh-largest uranium producer. Relations between Washington and Niamey deteriorated after the military government that seized power in a 2023 coup ordered US forces to leave in 2024. Since then, Niamey's new leaders have relied on Russian paramilitaries for security instead of the West.

Sources described the financing as a diplomatic and commercial breakthrough for Washington. The US ambassador reportedly urged the administration to rebuild ties with Niamey and back the project. This push gained momentum after the Trump administration took office with a renewed emphasis on deal-making in Africa.

Geopolitical Implications

The project is viewed as an opportunity to secure access to a critical energy resource that might otherwise fall into the orbit of rival powers. One source familiar with discussions involving Global Atomic and the DFC noted a breakthrough occurred this summer when Chief Executive Stephen Roman travelled to Washington to resolve remaining issues holding up approval.

Additionally, the deal could provide a rare bright spot in US-Canada relations, which have come under strain amid a trade war between the neighbors. Niger's government did not respond to a request for comment.

The Canadian Investment Regulatory Organization (CIRO) resumed trading in all securities of Global Atomic Corporation on Sept. 16, 2026. The resumption occurred at 3:30 pm ET, lifting a temporary suspension imposed earlier that day.

Trading in the Toronto Stock Exchange-listed entity’s shares, under the symbol GLO, had stopped at 2:24 pm ET. CIRO cited "pending news" as the reason for the initial suspension, which was implemented to ensure a fair and orderly market while the company prepared to release material information.

Regulatory Context

CIRO is the national self-regulatory organization overseeing investment dealers and trading activity on debt and equity marketplaces in Canada. It holds the authority to impose temporary trading halts on publicly listed companies.

The halt affected all issues of Global Atomic Corporation. No further details regarding the nature of the pending news were disclosed in the initial filing or the resumption notice.