The company holds a mining license and necessary approvals for the uranium deposit having acquired Kalahari Minerals in early 2012.
Kalahari was the largest shareholder in Extract Resources, which owned 100% stake in the project.
CGNPC Uranium Resources executive deputy director Deng Ping was quoted as speaking at a mining conference in China saying that the plant’s construction would complete as planned for the projected 2015 production.
"We plan to start construction on the Husab mine around the end of this year and complete construction in three years," reported Reuters.
Construction and development at the mine is estimated to cost around $1.5bn.
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