Thani Holdings has formed a new uranium resource company, Arabian Uranium Ventures Inc, to develop, through exploration and acquisition, a uranium portfolio in the Middle East and Africa.

The firm has diversified business interests including in oil & gas, mining, real estate and trading. Eight years ago it established the first independent Arab oil & gas company to successfully venture beyond the Gulf.

Mr Camball chief executive officer of Thani Holdings said: “With growing energy needs, ever-decreasing oil and gas reserves and environmental concerns, I believe the business case for Arabian Uranium Ventures is sound.”

Currently in its project generation and business development phase, the company will leverage off Thani Dubai Mining’s established capabilities and significant relationships in the region, as well as exploring partnerships with high-profile resources companies with strong uranium exploration experience.