AFRICA IN FOCUS

Increasingly, uranium in Africa is attracting interest from emerging economies, particularly from India and China. Chinese investments in Africa are facilitated through the China-Africa Development Fund (CAD Fund), a large private equity fund. China Uranium Corporation – a subsidiary of the state-owned enterprise China National Nuclear Corporation (CNNC) – has signed an agreement with the CAD Fund to jointly develop uranium resources in Africa. In Niger, 37.2 percent of Société des Mines d’Azelik (Somina), the operating company of Azelik mine, is owned by China Nuclear International Uranium Corporation (Sino-Uranium), another subsidiary of CNNC, and 24.8 percent is owned by another Chinese company, ZXJOY Invest Corporation. The Chinese state-owned company China Guangdong Nuclear Power Company (CGNPC) co-owns the Husab uranium mine in Namibia.