Project ID: 256

China Eximbank provides RMB 650 million government concessional loan for Azelik Uranium Mine Project (Linked to #58973)

Commitment amount

$ 107386459.8

Constant 2017 USD

Summary

Funding agency [Type]

Export-Import Bank of China [State-owned Policy Bank]

Recipient

Niger

Sector

Industry, mining, construction (Code: 320)

Flow type

Loan

Concessional

Yes

Category

Intent

Commercial (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2011

2007-06-01

Planned implementation start

Completion

2010

2010-01-01

Planned

2010-10-30

Actual

Geography

Description

On 17 March, 2009, the Chinese Government and the Government of Niger signed a loan framework agreement for the Azelik Uranium Mine Project (See: NOTE D’INFORMATION 3e trimestre 2009 N° 19). Then, in April 2011, China Eximbank and Société du Patrimoine des Mines du Niger (SOPAMIN) -- a Nigerian public holding company that manages the Nigerien Government’s holdings in mining companies operating in the country — signed an RMB 650 million government concessional loan (GCL) for the Azelik Uranium Mine Project (See: Niger-Chine : Une coopération économique et commerciale en plein essor and NOTE D’INFORMATION 3e trimestre 2009 N° 19). This loan carried the following terms: 20 year maturity. 5 year grace period, and 2% interest rate (See: Niger-Chine : Une coopération économique et commerciale en plein essor). The proceeds from this loan were used to finance the Government of Niger's 33% share of the construction costs for the development of Teguidda mine at the Azelik uranium deposit (See: China extends Niger $95m loan for uranium project). In addition to the development of the uranium mine, this project supported the construction of two coal-fired power plants and a hydrometallurgy plant.China Nuclear International Uranium Corporation was responsible for the design of the project, and Sinohydro was responsible for the implementation of the project (See: First uranium from Niger mine). Trial operation of the mine began on 10 December, 2010, with the first barrel of yellow cake uranium being produced on 30 December, 2010 (See: First uranium from Niger mine). The mine is operated by a joint venture (see ID#58973), known as la Société des Mines d'Azelik (SONIMA), which was established in July 2006 (See: First uranium from Niger mine). It is co-owned by Chinese Nuclear International Uranium Corporation (CNIUC) (37.2%), the Nigerien Government (33%), the Chinese investment company Zxjoy Technology and Trade (24.8%), Korea Resources (4%), and Trendfield Energy and Resources (1%) (See: African Uranium: Near-Term Projects May Boost Production and Chinese firms sign 140 mln USD uranium project in Niger).

Additional details

- The French project title is le projet d'exploitation d'uranium de la Société des Mines d'Azelik (SONIMA). - The Chinese project title is 尼日尔依姆铀矿项目 or 尼日尔阿泽里克铀矿项目.- In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it identifies this loan as carrying a 1% interest rate. AidData relies on the interest rate (2%) that is reported by the Chinese Government and the Government of Niger.

Number of official sources

13

Number of unofficial sources

25

Download the dataset

Details

Cofinanced

No

Receiving agencies [Type]

Société du Patrimoine des Mines du Niger (SOPAMIN) [State-owned Company]

Implementing agencies [Type]

China Nuclear International Uranium Corporation (SinoU) [State-owned Company]; Government of Niger [Government Agency]; SinoHydro [State-owned Company]; Société du Patrimoine des Mines du Niger (SOPAMIN) [State-owned Company]

Loan type

Concessional

Maturity

20 years

Interest rate

2.0%

Grace period

5 years

Grant element

53.10116182%

Gurarantee provided

No

Insurance provided

No