Swakop Uranium
Swakop Uranium is an entity established in 2006 by Extract Resources, an Australian company listed on the Australian, Canadian, and Namibian stock exchanges, to explore, evaluate, develop, and produce uranium oxide. In April 2012, Swakop Uranium was acquired by Taurus Minerals Limited of Hong Kong. Swakop Uranium head office is located in Swakopmund. Taurus is a subsidiary of the China General Nuclear Power Company (CGNPC), Uranium Resources Co. Ltd. and the China-Africa Development Fund. Taurus owns ninety percent of Swakop Uranium. The remaining 10% is owned by Epangelo Mining Company, the Namibian state-owned mining company.[7] CGNPC’s investment in Swakop Uranium is one of the biggest investments in Namibia since its independence, and by far the single biggest investment by China in Africa. More than US$100-million (N$1-billion) has been spent to reach the construction phase. A further US$2-billion (N$20-billion) will be required to bring the mine online.[8]