{"id":7550,"date":"2012-01-31T21:24:19","date_gmt":"2012-01-31T19:24:19","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/update-2-rio-tinto-accepts-chinese-offer-for-kalahari\/"},"modified":"2012-01-31T21:24:19","modified_gmt":"2012-01-31T19:24:19","slug":"update-2-rio-tinto-accepts-chinese-offer-for-kalahari","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-rio-tinto-accepts-chinese-offer-for-kalahari\/","title":{"rendered":"UPDATE 2-Rio Tinto accepts Chinese offer for Kalahari"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Rio Tinto Rossing accepts CGNPC offer for Kalahari shares<\/span><\/p>\n

<\/span><\/p>\n

* Rio says decision on Extract will be made “in due course”<\/p>\n

<\/span><\/p>\n

LONDON\/SYDNEY<\/span> Jan 31 (Reuters) – Miner Rio Tinto
\n has accepted China Guangdong Nuclear Power Corp’s
\n(CGNPC) bid for its shares in Kalahari Minerals, the
\nmajor shareholder in one of the world’s largest uranium
\nprojects, it said on Tuesday.<\/p>\n

<\/span><\/p>\n

CGNPC, which is bidding alongside the China-Africa
\nDevelopment Fund in its effort to boost access to uranium
\nsupplies, wants to buy Kalahari for its 42.7 percent interest in
\nExtract Resources, which owns the giant Husab uranium
\nproject in Namibia.<\/p>\n

<\/span><\/p>\n

CGNPC has said it would make a subsequent offer for Extract
\nif it won acceptances for at least 50 percent of Kalahari
\nshares. It is under no obligation to extend the offer if it does
\nnot cross that threshold.<\/p>\n

<\/span><\/p>\n

Rio had been expected to bow to the Chinese offer for
\nKalahari, which values the Namibia-focused miner at around $990
\nmillion. Hopes of a counter-offer faded, particularly after Rio
\nmade a bid for Canadian uranium prospector Hathor last
\nyear.<\/p>\n

<\/span><\/p>\n

But it is unclear whether Rio, which owns the Rossing mine
\nthat neighbours Husab, will also tender its 14.2 percent stake
\nin Extract in the event of a Chinese bid for those shares. Rio
\nsaid in its statement that it would make a decision on whether
\nto accept any offer for Extract “in due course”.<\/p>\n

<\/span><\/p>\n

Sources familiar with the matter said earlier that Rio was
\nexpected to agree to the Extract offer, but it was also
\nconsidering folding some of its own maturing Namibian uranium
\nassets into a joint venture with the Chinese company.<\/p>\n

<\/span><\/p>\n

Husab is potentially the second-largest uranium mine in the
\nworld, and Rio Tinto has been in talks with Extract to combine
\nits neighbouring Rossing mine, the world’s longest-running open
\npit uranium mine, with Husab.<\/p>\n

<\/span><\/p>\n

The deal comes as potential new sources of uranium supply
\nare attracting interest, with the price of uranium miners
\nbattered last year after the Fukushima nuclear disaster.<\/p>\n

<\/span><\/p>\n

Rio last year succeeded in a C$654 million takeover of Hathor
\nafter Cameco withdrew a rival offer.<\/p>\n

<\/span><\/p>\n

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

* Rio Tinto Rossing accepts CGNPC offer for Kalahari shares * Rio says decision on Extract will be made “in due course” LONDON\/SYDNEY Jan 31 (Reuters) – Miner Rio Tinto has accepted China Guangdong Nuclear Power Corp’s (CGNPC) bid for its shares in Kalahari Minerals, the major shareholder in one of the world’s largest uranium […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7550","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7550"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7550\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}