Leading in a new era of optimism for Rössing Uranium, China National Uranium Corporation Limited (CNUC) became the new majority shareholder in Rössing Uranium, the world's longest-running open-pit uranium mine. This follows the sale of Rio Tinto's 68.62 per cent shareholding to CNUC on 16 July 2019. CNUC is a subsidiary of state-owned China National Nuclear Corporation Limited (CNNC).
The rest of Rössing Uranium’s shareholding remains unchanged. The Namibian Government has a shareholding of 3 per cent and it has the majority (51 per cent) when it comes to voting rights. The Iranian Foreign Investment Company (IFIC) is a passive legacy investor in Rössing Uranium, holding a 15 per cent stake that goes back to the early 1970s in the financing of the mine. The Industrial Development Corporation of South Africa owns 10 per cent, while individual shareholders own a combined 3 per cent shareholding.
At the hand-over event (depicted in the photographs on this page) on 25 July 2019, Mr He Zixing, Vice President of CNNC, paid tribute to all of Rössing’s stakeholders for their historical contributions to the mine.
Now, as part of a fully-integrated nuclear power giant, a new era has been ushered in for Rössing Uranium, bringing with it all the benefits of shared cooperation. The positive implications of this in terms of extending the life of the mine and what that means with regards to the continued employment of the mine’s 1,000 employees, is evident.
Top and bottom: Welcome, CNNC… On 25 July 2019, at a special event at the Rössing mine site, the mine was handed over to its new majority shareholder, CNNC. The event was celebrated by dignitaries from CNNC, CNUC, the Namibian Government, diplomatic corps, Rio Tinto, contractors and employees.