Swakop Uranium（Namibia Husab mine）, established in 2006, is a company registered in Namibia owned jointly by Taurus Mineral Limited (which holds 90 percent of the company shares) and Epangelo (which holds 10 percent). Taurus is an entity owned by Uranium Resources Co Ltd (URC), which is a subsidiary of CGN, and the China-Africa Development Fund. Epangelo is a Namibian state-owned mining company. The investment in Swakop Uranium not only marked the biggest in Namibia since the country’s independence, but also by far the single biggest investment by China in Africa.
Swakop Uranium is constructing and developing a world-class uranium mine, called the Husab mine, near the town of Swakop mund in the Erongo region. The project officially kicked off on April 18, 2013, with a ground-breaking ceremony, and welcomed a Commencement Ceremony on May 8, 2014, under the witness of Hifikepunye Pohamba, former president of Namibia. On August 27, 2015, President Hage Geingob, accompanied by the first lady of Namibia and President Edgar Lungu of Zambia, visited the Husab mine and expressed his high expectations of the project. On March 19, 2016, President Hage Geingob accompanied the president of Malian and the first lady to the Husab Mine again, second time within one year of his inauguration.