Global Atomic Corporation has emerged as a notable player in Africa’s uranium sector through its flagship Dasa uranium project in Niger. The company operates via two divisions: uranium development focused on the high-grade Dasa deposit and base metals operations through a zinc recycling joint venture in Turkey, providing cash flow support during the uranium pre-production phase.
Dasa is an 80%-owned Global Atomic project with the Niger government holding a 20% stake. The mine is expected to operate for 23 years, producing over 3 million pounds of U₃O₈ annually from a total resource exceeding 68 million pounds, with uranium grades above 5,000 ppm. Initial processing capacity is set at 1,000 tonnes per day, with potential expansion to 2,000 tonnes per day, and production is targeted for Q1 2027. The project’s development aligns with global nuclear energy expansion and the growing demand for diversified uranium supply. Investor confidence is reflected in the company’s recent bought deal financing, which increased from C$20 million to C$35 million due to strong market interest.
Dasa is located in Niger’s Tim Mersoï sedimentary basin, 105 kilometres south of Arlit. This geological setting offers stable sandstone host rock, consistent high-grade uranium, shallow underground access, and processing compatibility, providing operational advantages over lower-grade global deposits. The mine comprises multiple mineralised zones, offering flexible mine sequencing and potential resource expansion along strike and at depth, enhancing the project’s long-term viability.
Construction began with the First Blast Ceremony in November 2022 and currently employs around 700 workers. Development includes underground ramp construction, processing plant installation, power and water infrastructure, and worker accommodations. Initial production expectations have shifted from Q2 2026 to Q1 2027, reflecting typical scheduling adjustments. The processing plant is designed for potential throughput expansion to accommodate future resource growth.
Financially, Global Atomic’s investment is supported by its dual-division structure. The zinc recycling operation in Turkey generates cash flow independent of uranium production, reducing reliance on external financing and providing a buffer during the pre-production phase. The company’s recent financing included share issuance with warrants exercisable at C$0.80, potentially raising an additional C$45.2 million if fully exercised. Capital allocation prioritises underground infrastructure, processing facilities, power and utilities, and exploration, ensuring alignment with critical development milestones.
Niger’s updated mining legislation strengthens project economics with reduced uranium royalties (from 12% to 7%) and streamlined permitting. The government’s 20% equity participation ensures political alignment, while local employment targets support sustainable community engagement. Full permitting and compliance with environmental and social impact requirements remove major regulatory risks, facilitating uninterrupted construction and operational planning.
Approximately 90% of Dasa’s projected uranium production is already secured through off-take agreements with U.S. utilities, providing revenue predictability and aligning with strategic uranium supply diversification goals. The remaining 10% allows exposure to spot market opportunities.
Resource exploration indicates further growth potential, with additional deposits identified within Global Atomic’s property portfolio and the processing plant designed for capacity expansion. The project is positioned to meet rising uranium demand driven by global nuclear energy adoption, providing a low-cost, high-grade production profile with logistical advantages due to proximity to Arlit.
Key risks include construction execution, technical and operational challenges, workforce development, logistics coordination, political and regulatory uncertainties, uranium price volatility, and capital cost pressures. However, government partnership, secured off-take agreements, and strong project fundamentals mitigate these risks.
Overall, Dasa’s high-grade resources, strategic location, infrastructure access, and government alignment establish Global Atomic as a strategic contributor to global uranium supply. The dual-division model provides financial flexibility, reducing reliance on uranium market cycles and positioning the company for sustainable growth within the expanding nuclear energy sector.
