07:51 AM EDT, 10/29/2024 (MT Newswires) -- Global Atomic ( GLATF ) said on Tuesday that the U.S. development bank plans to support a US$295 million debt facility for the Dasa uranium project in Niger.

The bank plans to conclude its approval process, including committee and board level approvals by early next year, Global Atomic ( GLATF ) said. The company said the facility will cover 60% of the planned costs for the Dasa project, which is scheduled to achieve commercial production in early 2026.

"Although we continue to assess a number of other financing options, we believe the development bank offers the best financing solution for the benefit of our shareholders and our nuclear power utility customers," said Stephen Roman, Global Atomic's ( GLATF ) president and CEO.

In addition to the development bank, Global Atomic ( GLATF ) said it is in talks with parties regarding a potential joint venture investment in the Dasa project and other financing solutions.