At present, the main business of the Company is the development and trading of natural uranium resources for use by nuclear enterprises.
Since the Company completed the acquisition of 100% equity interests in Beijing Sino-Kazakh Uranium Resources Investment Company Limited on May 16, 2014, the Company has indirectly held 49% equity interests in Semizbay-U Limited Liability Partnership (“Semizbay-U”) and sales rights of the off-take of uranium products. Semizbay-U owns the rights of two Uranium mines which are under operation in Kazakhstan.
The main products which the Company currently sells are the self-produced natural uranium, which represents 49% uranium annual uranium production of Semizbay-U. Through CGNPC Uranium Resources Co. Ltd., the controlling shareholder owning import and export qualifications of natural uranium, the Company supplies natural uranium to Guangxi Fangchenggang Nuclear Power Co., Ltd., a member of CGNPC, and Yangjiang Nuclear Power Co., Ltd. on an exclusive basis and pricing is determined by the fair market price through commercial negotiations. In the future, the Company will further expand the nuclear users in domestic nuclear market and actively develop users in international nuclear market.