Chinese SOE sets sights on Kalahari Minerals

    | BY

    Candice Mak

    CGNPC Uranium Resources (CGNPC), a PRC-based state-owned energy group, has made a potential cash offer to the entire issued and to be-issued share capital…

    CGNPC Uranium Resources (CGNPC), a PRC-based state-owned energy group, has made a potential cash offer to the entire issued and to be-issued share capital of Kalahari Minerals (Kalahari). The target is an Aim- and NSX-listed mining company with metal interests in Namibia. The acquirer is a nuclear power producer.

    The potential offer is valued at nearly US$1.23 billion. A formal offer will be made if certain pre-conditions are satisfied. These principally relate to the receipt of normal PRC governmental approvals for outbound investments.

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