China National Uranium Co Ltd (CNUC), a subsidiary of China National Nuclear Corporation (CNNC), was officially listed on the main board of the Shenzhen Stock Exchange on Dec 3. Trading under the code 001280, it has become the first natural uranium stock in the A-share market.

The listing marks a significant milestone for CNUC as the company enhances its capital market operations and helps bolster national energy security. This also represents a key step in CNNC's efforts to advance its "three-step" nuclear energy development strategy.

Natural uranium is a critical strategic mineral resource for China. Its secure and stable supply underpins the rapid growth of nuclear power and supports the country's energy security goals. As a core enterprise within China's nuclear industry system, CNUC focuses on natural uranium mining, refining, sales and trade, as well as the comprehensive utilization of radioactive associated mineral resources. The company shoulders the mission of building a strong nuclear foundation and a robust nuclear power granary.

Proceeds from CNUC's IPO will be used to fund two major initiatives: domestic natural uranium business and the comprehensive utilization of radioactive associated mineral resources, and to provide additional liquidity. By raising funds through its listing, the company will further increase its investment in China's natural uranium industry, accelerate the implementation of planned production capacity and enhance its ability to serve national strategic objectives.

CNUC's technological capabilities are considered among the industry's best. It has developed a sophisticated in-situ leaching system for complex sandstone-type uranium deposits, represented by CO₂+O₂ in-situ leaching technology, and mastered key processes such as collaborative mining of multi-layer ore bodies and leaching of high-grade uranium ores.

The company pioneered techniques for the comprehensive recovery of monazite, uranium-molybdenum, uranium-iron and other resources, and enabled the integrated utilization of uranium, thorium, rare earths, molybdenum and other rare metals. It has also become a leader in utilizing radioactive associated mineral resources.

Notably, CNUC's National Uranium No 1 Demonstration Project produced its first barrel of uranium in just one year, setting a record speed for building natural uranium production capacity.

With its IPO, CNUC aims to further consolidate its strategic position as a nuclear power granary, strengthen China's technological self-reliance in high-level uranium development and solidify the domestic natural uranium supply system. The company will also deepen its participation in global natural uranium projects, thereby providing a solid resource guarantee for the growth of nuclear power in China and the world.