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CGN's Swakop Uranium Contributed N$ 200,000 to NIMT

2015-04-27

As reported by the Namibia's local media, Swakop Uranium, a subsidiary of CGN Uranium Resources Co., Ltd., recently concluded a Memorandum of Understanding (MOU) with Namibian Institute of Mining Technology (NIMT) to contribute N$ 200,000 to NIMT to facilitate the purchasing of training equipment and enhance academic level.

CGN Swakop Uranium was established in May 2012 to be completely responsible for the construction and operation of Husab Uranium Mine Project in Namibia. The uranium reserve at Husab is the third largest in the world with the total U3O8 reserve up to 286,000 tons. Moreover, the Husab Uranium Mine is China's largest industry investment project in Africa, which is regarded as the symbolized engineering project of Sino-African economic and trade cooperation, and also as an important project of China's strategy of “One Belt One Road”. When Husab Uranium Mine reaches the targeted output, it can satisfy the demand of natural uranium of 20×1,000 MWe units for almost 40 years.

At the moment of promoting the construction of Husab Uranium Mine, CGN Swakop Uranium has been always dedicating to create opportunities to help Namibia growing local economy. Eckart Mueller, Executive board of NIMT, stated that Swakop Uranium's joining hand with NIMT would ensure Husab Mine as one of largest uranium mines in the world to own sufficient technical personnel in the future as well as significantly improve the life of Namibia people.

It is known that 6,000 temporary job opportunities can be available to Namibia during the project construction and 1,600 long-term job opportunities during operation period. When the annual U3O8 production capacity of the project reaches the target output of 6,500 tons, Namibian's export will increase about 20% while GDP increase about 5%, which may enable Namibia to become the second largest production and export country on natural uranium in the world, so the international competitiveness of Namibian mining industry can be improved as a result. Percy McCullum, Vice President of HR and Business Support, stated that Swakop Uranium would further spend N$ 150 million to support technical training in the coming two years.