Guptas to list uranium mine to raise R800 million

The Gupta family intend listing a uranium mine on the Johannesburg Stock Exchange to raise R800 million.

The Beeld reported that the Guptas would list their energy company Oakbay Resources and Energy on the JSE to raise the R800m from investors for the development of the Dominium uranium mine.

Oakbay Resources owns Dominium, and President Jacob Zuma's son Duduzane, was a director in one of the companies owned by Oakbay Resources.

This comes after the news last month that South Africa would embark on a large nuclear power program.

The family's holding company Oakbay Investments said in a statement on Friday that it was conducting a feasibility study in light of the expected increase in demand for uranium.