After the crisis at Japan’s Fukushima Daiichi nuclear plant scuttled a similar deal earlier this year, China Guangdong Nuclear Power Group is again in talks with a company controlling vast uranium deposits in Namibia.
Australian regulatory filings by Extract Resources confirmed Kalahari Minerals, which holds 43 percent of Extract shares, has renewed takeover talks with the state-controlled Chinese company. At stake is partial ownership of Extract’s Husab site in Namibia, which the company describes as the fifth-largest known primary uranium deposit in the world.
Shortly before the Fukushima accident, CGNPG made a tentative offer to buy Kalahari stock at 11 percent above its March 4 closing price of $4.07. The Sydney Morning Herald on Tuesday reported the new offer could be worth as much as $2.2 billion.