Rio Tinto accepts Chinese offer for Kalahari

Miner Rio Tinto has accepted China Guangdong Nuclear Power Corp's bid for its 11.1% stake in Kalahari Minerals, a top shareholder in one of the world's largest uranium projects. CGNPC, which has been seeking new sources of uranium supply, wants...

Kalahari shareholder succumbs to bid

Hong Kong-listed Apac Resources has accepted the takeover offer by China Guangdong Nuclear Power Corp (CGNPC) for its 13.14% interest in Kalahari Minerals, bringing CGNPC close to its 50% minimal shareholding condition. The Chinese firm has set a...

Extract continues Husab talks, Chinese offer looms

Uranium developer Extract Resources would continue its partnership discussions for the Husab uranium mine, in Namibia, despite a looming takeover by China Guangdong Nuclear Power Corp (CGNPC), it said on Friday. Extract’s majority owner,...

Kalahari agrees to new, lower £632m China bid

London-listed Kalahari Minerals said on Thursday it agreed to an offer from China Guangdong Nuclear Power Corp (CGNPC) valuing it at £632-million, or $993-million. The £2.4355-a-share cash offer represented a 16.1% premium to the average...

Extract in talks over funding, offtake for uranium project

Extract Resources, hoping to build the world’s third-biggest uranium mine at its Namibian Husab project, said on Monday it is talking to “several” companies about potential offtake and funding deals. “The partnership process remains...

Extract in talks to sell Husab stake to Namibia - report

Extract Resources is in talks to sell a stake in what is the world’s fourth-biggest uranium deposit to the Namibian government, Bloomberg reported on Tuesday, quoting CEO Jonathan Leslie. The Namibian government sent jitters through the mining...

India's arrival as uranium mine buyer to heighten competition - Uranium One

Uranium One CEO Chris Sattler expects to see India emerge as a buyer of uranium companies around the world, increasing competition for a limited number of assets, he said in an interview this week. Bloomberg reported on Friday the country is...

Kalahari moves to stay on good terms with China

Aim-quoted Kalahari Minerals is staying in China Guangdong Nuclear Power Corp’s (CGNPC’s) good books, deciding not to demand a £7,5-million break fee after the Chinese company abandoned a bid for the uranium junior. “We may, going...

Uranium One aims to double production this decade

Uranium One, which reported a net profit of $14-million for the first quarter, aims to more than double its 2011 production to between 22-million pounds and 26-million pounds by 2020, CEO Chris Sattler said on Wednesday. The Toronto- and...