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Developments in Namibian mining indicate growth of sector

The Namibian Minister of Environment and Tourism has given environmental clearance to Australia-based uranium explorer Deep Yellow for its 95%-owned Shiyela iron-ore project.

 

CGNPC takes up last of Extract shares

By: Esmarie Swanepoel ASX- and TSX-listed Extract Resources would be incorporated into China Guandong Nuclear Power Corporation (CGNPC), after that company’s subsidiary acquired a 93.12% shareholding in the takeover target. CGNPC had offered Extract shareholders $8.65 in cash for every Extract share held, valuing the... 

Rio Tinto accepts Chinese offer for Extract stake

By: Matthew Hill Global miner Rio Tinto has accepted China Guangdong Nuclear Power Corp's (CGNPC's) offer for its 14% stake in Extract Resources, owner of the giant Husab uranium project in Namibia. Monday's move had been expected after Rio accepted CGNPC's bid for its separately held stake in Extract's 42%... 

CGNPC launches A$2.2bn Extract takeover

By: Esmarie Swanepoel The China Guandong Nuclear Power Corporation (CGNPC) on Tuesday launched a A$2.2-billion takeover offer for ASX- and TSX-listed uranium developer Extract Resources. CGNPC, through its subsidiary Taurus Minerals, has made a $8.65 a share cash offer for all the shares in Extract it does not... 

Extract in trading halt pending CGNPC offer

By: Esmarie Swanepoel Uranium mine developer Extract Resources was granted a share trading halt on the ASX on Friday as the company awaited a downstream offer from China Guandong Nuclear Power Corporation (CGNPC) through its subsidiary Taurus Minerals. It was estimated that CGNPC currently had a shareholding of... 

Rio Tinto accepts Chinese offer for Kalahari

By: Reuters 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 to buy Kalahari for its 42.7% interest in Extract ,... 

Namibia conditionally approves possible acquisition of uranium developer Extract Resources by Chinese-owned entity

By: Joanne Taylor The Namibian Competition Commission has approved the possible acquisition of control of Australia-based Extract Resources by Chinese-owned Taurus Minerals, should London-based Kalahari Minerals, which owns 42.7% of Extract, accept its £632-million bid by February 2. 

RCR sees buying opportunities emerging in uranium

By: Esmarie Swanepoel While uranium traders remain cautious going into the first half of 2012, buying opportunities continued to emerge in the uranium sector, Sydney-based Resource Capital Research (RCR) said on Monday. RCR noted that the dynamics driving the near-term sector outlook continued to be dominated by the... 

Extract in trading halt as CGNPC deadline looms

By: Esmarie Swanepoel Uranium developer Extract Resources again went into a trading halt on Thursday as it awaited the outcome of discussions between its major shareholder Kalahari Minerals and China’s CGNPC Uranium Resources. CGNPC recently made its intensions clear to offer £2.43 a share for Kalahari Minerals,... 

Company Announcement: Mining Licence issued for Husab Uranium Project

Extract Resources is pleased to announce that the Ministry of Mines and Energy of the Republic of Namibia has now issued the Mining Licence for the Husab Uranium Project.  

Company Announcement: Mining Licence application update

Extract is pleased to announce that the Ministry of Mines and Energy of the Republic of Namibia has provideda notice of preparedness to grant a Mining Licence for the Husab Uranium Project to Swakop Uranium, a wholly owned subsidiary of Extract.  

CGNPC in talks with Namibia's Epangelo over Husab

By: Esmarie Swanepoel Uranium developer Extract Resources on Tuesday confirmed talks between China’s CGNPC Uranium Resources and its Husab project partner Epangelo Mining Company. Epangelo is a State-owned Namibian enterprise, which is in discussion with Extract around the possible acquisition on commercial terms of... 

Extract shares fall after CGNPC puts new price on Kalahari

By: Esmarie Swanepoel Shares in Extract Resources dropped more than 3% in Sydney on Friday, on news that China’s CGNPC Uranium Resources had lowered its offer price for majority shareholder Kalahari Minerals. Kalahari announced to the LSE that it remained in negotiations with CGNPC regarding a possible takeover, but... 

Extract goes into trading halt, awaits Kalahari news

By: Esmarie Swanepoel Uranium developer Extract Resources went into a trading halt on Thursday, as its shareholder Kalahari Minerals and its Chinese suitor CGNPC Uranium resources conclude discussions. Extract told the ASX that it would remain in a trading halt until Kalahari made an announcement on the London Stock... 

Kalahari moves to stay on good terms with China

By: Matthew Hill 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 forwards, review alternatives for cooperation in the absence of... 

China walks away from Kalahari - for now

By: Matthew Hill China Guangdong Nuclear Power (CGNP) has abandoned its possible bid for uranium junior Kalahari Minerals after the UK Takeovers Panel disallowed a lower offer this week, but the State-owned firm retains the right to make a new one, the company said on Tuesday. CGNP cannot make a bid lower than... 

UK Takeover Panel takes issue with lower bid for Kalahari Minerals

By: Matthew Hill Although China Guongdong Nuclear Power Corp (CGNP) and Aim-listed Kalahari Minerals have agreed to a new £2,70 a share bid for the company, 7% lower than the one announced before the Japanese nuclear disaster in March, the UK Takeover Panel has ruled against it. Kalahari said on Tuesday that it... 

Namibia nationalisation anxiety knocks uranium miners 

By: Matthew Hill Uranium miner Paladin Energy moved to calm investors after its shares tumbled 7,4% on the TSX over reports that Namibia’s state-owned mining company wanted to claim all uranium mining rights, as well as other “strategic” materials. “Following discussions with the Government of Namibia, it is our... 

Extract Resources shares drop on Namibia government plan

By: Reuters Shares in uranium explorer Extract Resources slumped 10 percent on Thursday on worries about plans by the Namibian government to assign almost all mining and exploration rights to a state-owned company. Australia-listed Extract Resources declined to comment on the government's proposal to give... 

Extract considering implications of Chinese bid for Kalahari

By: Esmarie Swanepoel ASX- and TSX-listed Extract Resources is mulling the implications of a possible takeover bid for major shareholder, Kalahari Minerals, and asked shareholders on Tuesday to take no action. Kalahari told the LSE on Monday that China’s CGNPC Uranium Resources might launch a 290p a share cash offer,... 

Rio/Extract 'partnership' seen more likely than takeover

By: Matthew Hill Though Rio Tinto is rolling in cash, it won’t likely make a bid for uranium junior Extract Resources, Haywood securities analyst Geordie Mark said on Friday. Earlier this week, Extract announced it was in talks with the mining giant to combine its Husab uranium deposit with Rio Tinto’s... 

Extract and Rio mulling Namibia uranium tie-up

By: Esmarie Swanepoel Exploration company Extract Resources said on Monday that it was in discussions with Rio Tinto regarding a potential combination of the Husab uranium project with the neighbouring Rossing mine, in Namibia. The ASX- and TSX-listed uranium developer said that a combination of the two uranium mines... 

Kalahari Minerals raises £41,76m to increase Extract stake

By: Mariaan Webb Aim-listed Kalahari Minerals on Monday announced a share placing to raise £41,76-million, which would allow it to increase its stake uranium explorer and developer Extract Resources. The company said last week that it would subscribe for 7,3-million ordinary shares in Extract, increasing its... 

Kalahari Minerals seeks to move to LSE main market

By: Petronel Smit Aim-listed Kalahari Minerals will apply to move to the LSE main market, chairperson Mark Hohnen said on Friday. The company, which is a strategic shareholder in Extract Resources, believes that the official list is the most appropriate platform for its future growth, after four years on Aim.  

Extract to raise A$60,9m in placement for Husab project

By: Esmarie Swanepoel ASX- and TSX-listed Extract Resources on Thursday said that it would raise A$60,9-million through a share placement to major shareholder Kalahari Minerals. Extract would issue around 7,3-million shares to Kalahari, at a price of A$8,35 a share to raise the funds. The offer price represented a 5%... 

Kalahari gains exposure to Asian resources sector

By: Loni Prinsloo Aim-listed resources company Kalahari Minerals reported on Friday that it had raised £37,89-million through two capital raisings in the year ended December 2009. Kalahari chairperson Mark Hohnen said that this demonstrated a strong investor appetite for the company's assets. "We have also... 

Production at Namibia’s Rossing South uranium project scheduled to begin in late 2013

By: Loni Prinsloo Uranium explorer Extract Resources is committed to going-ahead with the development of its Rossing South project, envisaging first production in late 2013.

The 8-km uranium mineralisation had been confirmed as the highest-grade granite-hosted uranium deposit in Namibia, and one of the most... 

Extract to complete Rössing South feasibility study by midyear

By: Loni Prinsloo Uranium explorer Extract Resources is committed to going-ahead with the development of its Rössing South project, envisaging first production in late 2013. The 8-km uranium mineralisation had been confirmed as the highest-grade granite-hosted uranium deposit in Namibia, and one of the most... 

Kalahari, Extract agree on board structure

By: Creamer Media Reporter Aim-listed exploration company Kalahari Minerals has settled its dispute regarding the board composition of Australia’s Extract Resources, in which its uranium subsidiary held a 39,81% stake. Kalahari Minerals has withdrawn its request to call a special meeting to remove John Main and Steve... 

Rio increases stake in Kalahari to 15,8%

By: Esmarie Swanepoel Diversified miner Rio Tinto’s International Holdings Australia has purchased about 3,45-million shares in Aim-listed Kalahari Minerals, bringing its shareholding in the company to around 15,8% of its issued shares. “The board of Kalahari believes it is important for shareholders to be apprised... 

Kalahari Minerals wants Buchan removed from Extract board

By: Christy van der Merwe Aim-listed Kalahari Minerals is seeking the removal of Robert Buchan as a director of ASX- and TSX-listed Extract Resources, in which Kalahari owns a 39% stake through its subsidiary Kalahari Uranium. Kalahari said that it “no longer makes sense to have a chairman located in North America”. 

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