Swakop Uranium, established in 2006, is a Company registered in Namibia, and is owned by Taurus Mineral Limited (which holds 90% of the Company shares) and by Epangelo (which holds 10%). Taurus is an entity owned by Uranium Resources Co Ltd (URC), which is itself a subsidiary of China General Nuclear Power Corporation (CGNPC), and the China-Africa Development Fund. Epangelo is the Namibian state-owned mining company.And 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 Swakopmund in the Erongo region.
As of March 2017, Husab Uranium Mine ranks third in the world with 292, 9 thousand tons of aggregate U3O8. Once reaching full capacity, it will become the world’s second largest producer of U3O8 with an output of 6,500 tons per annum.
The Project officially kicked off on 18 April 2013 with a ground-breaking ceremony, and welcomed a Commencement Ceremony on 8 May 2014 under the witness of His Excellency Former President Hifikepunye Pohamba. On August 27th 2015, His Excellency President Hage Geingob, accompanied by the First Lady of Namibia and His Excellency President Edgar Lungu of Zambia, visited Husab mine and expressed his high expectation towards the Project. And on March 19th 2016, His Excellency President Hage Geingob accompanied the Malian President and First Lady to Husab Mine again, second time within one year since His inauguration.
The Husab mine committed to national economic growth.
◆ More than 4 000 temporary jobs during construction
◆ Create 2,000 permanent employment opportunities incl. contractors during operations
◆ Contribute an additional N$7bn per annum to Namibian exports at current prices
◆ Add 7% to Namibia’s GDP
◆ Over N$200-million per year in royalties
◆ Corporate tax
◆ Employee PAYE , duties, withholding and other taxes