(Yicai Global), March 1 -- Shares of Anhui Jiangnan chemical rose 4.4% today after the Chinese supplier of civilian explosives and equipment said its overseas unit had won a bid to provide blasting, ore loading, and transportation services for a uranium mine in Namibia.

Jiangnan chemical shares [SHE:0002226] closed up 1.9 percent today at 5.72 yuan ($0.83) each. It reached 5.86 renminbi earlier in the day.

North Mining Technical Services (Namibia) has signed a deal worth N12.6 billion ($688 million) to provide services to Rossing uranium mine, a subsidiary of China National Nuclear Corp, the parent company based in Ningguo City, Anhui province, said yesterday. The contract runs from January next year to December 2036.

The agreement will help Jiangnan chemical expand its footprint in southern Africa and advance its transformation from a manufacturer to a service provider and manufacturer.

Rossing is the fourth-largest uranium mine in the world and produced 2,444 tonnes of uranium last year, about 5 percent of global production. In November 2018, a subsidiary of China National Nuclear Corporation acquired a 68.6 percent stake in the mine's owner, Rossing Uranium, to become the controlling shareholder.

ECHEMI -- The name originated from the abbreviation of “E-commerce of chemical”. ECHEMI is a chemical supply chain service company headquartered in Hong Kong, providing chemical raw materials supply, research and analysis, marketing, distribution, logistics, and E-commerce.