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CNNC Buying Stake in Namibia Uranium Mine

 

The signing ceremony of the equity investment of LH project by China Uranium Corporation Ltd.(CUC) (subordinated to Department of Geology & Mining, China National Nuclear Corporation, or CNNC) and Paladin Energy Ltd was held on 18th Jan, in Beijing. The signing sheds lights on the first successful corporation between CNNC and Paladin over the uranium development, bringing significant influences to the global uranium mining industry.


The Director-in-General of Department of Geology & Mining, CNNC, Mr. Du Yunbin and CEO of Paladin, Mr. John Borshoff both signed on the agreement at the signing ceremony. LH project as the operating flagship uranium project of Paladin, ranks ninth in the world uranium mines. The equity investment of China Uranium Corporation Ltd.(CUC) to the low-cost regular LH project ensures the smooth supply of uranium products, and additionally it contributes to the win-win corporation between the two companies.

 

Source: CNNC

 
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