Chinese to acquire Kalahari Minerals

A Chinese state-owned companygold mining scope in africa has made a bid for Kalahari Minerals’ stake in the Husab uranium project

China Guangdong Nuclear Power Group-Uranium Resources Company (CGNPC-URC) and Kalahari Minerals, a company based in London with uranium interests in Namibia, are currently in talks to come up with an acquisition agreement. A subsidiary of Kalahari Minerals, Kalahari Uranium Limited, a trading shell with no actual mining activity in the country, owns a 40% stake in Extract Resources’ Husab. Under the agreement, CGNPC-URC would pay 290 pence in cash for each of Kalahari Minerals shares, valuing Kalahari Minerals’ fully diluted share capital, including shares attributable to the options and convertible loan notes at about £756 million. “We are delighted to have secured the support of the Kalahari board, as we believe this...