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Dacheng Attorneys Advise CNNC on Namibian Uranium Mine Acquisition

On January 18 2014, a contract was signed between a subsidiary of China National Nuclear Corporation (“CNNC”) and a subsidiary of Paladin Energy Ltd, in which it was agreed that CNNC would purchase 25% of stake in Paladin Energy’s Langer Heinrich Mine with $190mln. A Dacheng team led by senior partner Yang Guisheng and participated by attorneys Zhang Ting, Gong Haiyan, Zhang Zhiming, Wang Yixuan and Wang Lu coordinated attorneys from Australia, Mauritius and Namibia and worked jointly with them for CNNC. Dacheng attorneys’ quality service and coordination skills were highly recognized by leaders and project members of CNNC, who also expressed willingness for further cooperation.
CNNC is a well-known central enterprise authorized to build and operate nuclear power plants in China. As a major shareholder in all China’s nuclear power plants, it controls the majority of China’s nuclear-related business, including R&D, engineering design, construction, nuclear power generation, nuclear exploration, nuclear energy enrichment, spent fuel reprocessing and nuclear waste disposal in over 100 subsidiaries located in more than 20 provinces, autonomous regions and municipalities. CNNC maintains business relations with more than 40 countries.
Paladin Energy, headquartered in Perth, Australia, is listed at stock exchanges of Australia, Canada and Namibia. It is the world’s leading uranium supplier which focuses on uranium exploration, project development and uranium mine operation. In the past two decades, it has become the only company in the world managing to develop two modern conventional uranium mines. Moreover, its Namibia-based Langer Heinrich Mine and Malawi-based Kayelekera Mine are thought to have successfully adopted advanced mining technologies.