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Chinese in £750m bid for African uranium

oil&gas

Well-known member
Apr 16, 2002
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Ghawar
The supply agreement signed with Cameco several months ago was just the beginning.
Obviously 29 million lbs of uranium concentrate from Cameco is far from
sufficient to meet China's increasing nuclear capacity.

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http://www.telegraph.co.uk/finance/.../Chinese-in-750m-bid-for-African-uranium.html

Philip Aldrick
08 Mar 2011

A Chinese state-owned nuclear power producer has made a £756m approach
for Kalahari Minerals, as the world's second largest economy searches
for new sources of uranium.

AIM-listed Kalahari, which holds around 43pc of Namibia-based Extract
Resources, revealed yesterday that a unit of China Guangdong Nuclear Power
Holding Corporation (CGNPC) had proposed a possible offer of 290p a share.

Although both companies said there was no certainty CGNPC would make
a formal offer, Kalahari said it would recommend one, if made on the
proposed terms.

CGNPC's possible offer represented an 11pc premium to Kalahari's closing
price on Friday. "The Kalahari board believes this represents attractive
value for Kalahari shareholders," executive chairman Mark Hohnen said.

Kalahari closed up 9.5pc at 284.6p, after hitting a high at 293.5p.

Kalahari also said it was also in talks to simplify its shareholder
structure with Extract, in a bid to combine assets with Rio Tinto
in Namibia.
 
Ashley Madison
Toronto Escorts