China National Uranium Co.,Ltd. Subsidiary Plans Stake Acquisition in Namibia's Etango Uranium Mine

Deep News05-11 22:35

China National Uranium Co.,Ltd. announced that its wholly-owned subsidiary, CNNC Overseas, intends to acquire a stake in the Etango uranium mine in Namibia. This investment plan was approved at the company's 29th meeting of the first board of directors and the second extraordinary shareholders' meeting in 2026. The company is currently advancing the relevant work for the project acquisition.

Upon completion of the transaction, the company will gain resource rights to the Etango uranium project, which is expected to enhance the scale and quality of its resource reserves. Once operational, the project will strengthen the company's sustainable operational capabilities and risk resilience. It will also improve the company's systematic control over high-quality global uranium resources and enhance resource security, aligning with the long-term interests of the company and all shareholders.

Moving forward, the company plans to consolidate and expand its natural uranium production capacity, primarily in Namibia and other African regions. It will also continue to develop and deploy in major global uranium-rich areas, such as Africa and Central Asia, to achieve new breakthroughs.

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