Niger loan
Source: Agencies |
April 2, 2011, Saturday
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Print Edition
Print Edition
NIGER has secured a 650 million yuan (US$99.28 million) preferential loan from China's Export-Import Bank to fund development of the Azelik uranium mine in the country's north, the government has said.
Niger and China's National Nuclear Corp formed a joint venture, Somina, in 2007 for development of the Azelik deposit, with production of 700 tons per year. Prior to Somina' creation, French firm Areva was Niger's sole uranium miner.
The loan is repayable in 15 years with a five-year grace period and an interest rate of 2 percent, a source close to the joint venture said on condition of anonymity.
The government did not comment on the terms of the loan.
Niger and China's National Nuclear Corp formed a joint venture, Somina, in 2007 for development of the Azelik deposit, with production of 700 tons per year. Prior to Somina' creation, French firm Areva was Niger's sole uranium miner.
The loan is repayable in 15 years with a five-year grace period and an interest rate of 2 percent, a source close to the joint venture said on condition of anonymity.
The government did not comment on the terms of the loan.
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