A foremost mineral refining company, Global Atomic has revealed it has received letters of intent from a banking syndicate willing to finance the Dasa Uranium Project in Niger.
The uranium developer company made the revelation on Monday and said the syndicate comprises North American financial institutions and the Export Development Canada.
The company also promised that the names of every company on the syndicate will be mentioned to follow due diligence and for transparency.
Global Atomic CEO, Steven G. Roman said the finances part of the project is targeted to be completed by the end of 2022 while construction of plants will begin in the first quarter of 2023.
“This significant milestone keeps us on schedule to complete our Dasa project financing by the end of 2022 and to begin plant construction in Q1 2023. By taking this step, the syndicate has indicated its confidence in the quality of the Dasa deposit and in management’s capability and commitment to execute the Phase 1 plan as outlined in our 2021 Feasibility Study,” he said.
The Dasa project is a high-volume, large-scale uranium project in the mining town of Artlit, Niger Republic. It lies with the licence area in the country called the Adrar Emoles III.
The company has stated that production of uranium will commence by 2024 with the mining area already being excavated.