Global Atomic Raises Funds for Its Dasa Uranium Project in Niger

The Dasa uranium mine in Niger, with mining equipment and industrial structures under a clear sky.

AFRICAN STOCKS AND FINANCEOctober 6, 2026 at 3:27 PM UTC

TLDR

Global Atomic has completed a fundraising round of 22.63 billion CFA francs for its Dasa uranium project.
The project aims to accelerate the development of this strategic oil field in Niger.
The funding comes amid renewed global interest in nuclear energy.

On October 1, the Canadian mining company Global Atomic announced the completion of a significant fundraising round. The primary goal of this transaction is to accelerate development work on its Dasa uranium project, located in Niger. The Dasa deposit is recognized as one of the most advanced uranium projects in the world.

This financing was carried out through a public offering on the Canadian market. It comes amid renewed global interest in uranium, driven by the resurgence of civil nuclear power and the search for low-carbon energy sources. The Canadian brokerage firm Red Cloud Securities led the offering as the sole underwriter and bookrunner. Each unit issued consists of one common share and one-half of a warrant.

Global Atomic raised total gross proceeds of nearly 57 million Canadian dollars, or approximately 39.9 million U.S. dollars or 22.63 billion CFA francs. The company issued 113.93 million units at a price of 0.50 Canadian dollars each, including the partial exercise of an over-allotment option. The warrants allow investors to purchase additional shares at 0.70 Canadian dollars until October 1, 2029. The funds raised will be used to advance the Dasa project and to strengthen the company’s general working capital needs.

The Dasa project is a strategic asset for Niger and constitutes the main asset of Global Atomic’s uranium division. Investor interest in uranium assets has grown in recent years, with the return of nuclear power to global energy strategies. For Global Atomic, this fundraising represents a crucial lever for maintaining the project’s development pace and preparing for its future production launch. The progress of the Dasa project could also generate significant economic benefits for Niger, particularly through investment, jobs, and tax revenue.

Located in the Tim Mersoï uranium basin in the Agadez region, the Dasa deposit was discovered in 2010. It received its mining permits in 2020 and has been under development since 2022. The project is led by Société des Mines de Dasa (SOMIDA), which is 80% owned by Global Atomic and 20% by the Nigerien government. Global Atomic describes Dasa as the most advanced uranium mining project in an undeveloped area currently under development worldwide.

Key Takeaways

Global Atomic’s successful fundraising for its Dasa uranium project in Niger is a clear indicator of the current dynamics of the global energy market. This comes at a time when nuclear energy is experiencing a significant resurgence in interest, driven by the need to reduce carbon emissions and ensure a stable energy supply. Many economies, particularly in Europe, Asia, and North America, are now turning to this energy source to meet their climate goals and strengthen their energy independence. This trend has naturally stimulated demand for nuclear fuel, making high-grade uranium deposits with low production costs—such as Dasa—particularly sought after by investors. The Dasa project, which Global Atomic describes as the world’s most advanced uranium mining project in an undeveloped area, is thus strategically positioned to meet this growing demand. For investors, this transaction represents an opportunity to invest in a key asset for the global energy transition. For Niger, the progress of Dasa is of paramount importance, as it would allow the country to consolidate its position among Africa’s leading uranium producers, with substantial economic benefits in terms of direct investment, local job creation, and tax revenue generation, thereby contributing to the country’s sustainable development. The transaction highlights the growing role of African mineral resources in meeting future global energy needs.

Niger