find the latest legal job
Banking Associate - 1-6PQE - Allen & Overy
Category: Banking and Finance Law | Location: United Kingdom
· Banking Associate - 1-6 PQE - Allen & Overy
View details
Academic Dean and Head of School of the TC Beirne School of Law
Category: Other | Location: Brisbane QLD 4000
· An outstanding opportunity · Provide educational, research and organisational leadership
View details
Senior Property Lawyer I Commercial Litigator
Category: Property Law | Location: Arncliffe NSW 2205
· Rapidly growing law firm, working with a highly experienced team in a high growth industry across all areas of property and strata law
View details
Senior Property Lawyer I Commercial Litigator
Category: Property Law | Location: All Sydney NSW
· Rapidly growing law firm, working with a highly experienced team in a high growth industry across all areas of property and strata law
View details
Senior Property Lawyer I Commercial Litigator
Category: Property Law | Location: Sydney NSW 2000
· Rapidly growing law firm, working with a highly experienced team in a high growth industry across all areas of property and strata law
View details
Minters drives Namibian uranium offer

Minters drives Namibian uranium offer

Minter Ellison has advised Chinese state-owned CGNPC Uranium Resources Company (CGNPC-URC) on its possible recommended cash offer for Kalahari Minerals plc (Kalahari).Kalahari, advised by…

Minter Ellison has advised Chinese state-owned CGNPC Uranium Resources Company (CGNPC-URC) on its possible recommended cash offer for Kalahari Minerals plc (Kalahari).

Kalahari, advised by Lawrence Graham (London), is an AIM and NSX-listed mining company with uranium, gold, copper and other base metal interests in Namibia.

Its key asset is its approximate 43 per cent holding in Extract Resources Limited, a Perth-based company that is listed on the ASX, TSX and NSX. Extract owns a 100 per cent interest in, and is developing the Husab uranium project in Namibia, which is ranked as the fifth-largest uranium deposit in the world.

CGNPC-URC is a nuclear power producer with interests in nuclear fuels procurement and production.

CGNPC-URC is in discussions to make a cash offer to Kalahari shareholders, which includes Rio Tinto, ITOCHU and APAC Resources.

GCNPC-URC has received irrevocable undertakings from the Kalahari board and, by acquiring control of Kalahari, the 20 per cent threshold for making a takeover offer for Extract would be exceeded.

CGNPC-URC is seeking relief from ASIC to acquire a relevant interest in more than 20 per cent of Extract.

For a formal offer to be made, certain pre-conditions must be satisfied, including the receipt of normal PRC government approvals for outbound investments, grant of ASIC relief, Australian FIRB approval for GCNPC-URC's acquisition of both Kalahari and Extract shares and securing of finance.

"These transactions are further examples of the implementation of the 'go out' policy of the Chinese Government in seeking investments to secure long term supplies of important commodities for the further development of the Chinese economy," said Andrew Thompson, Minter Ellison's lead partner.

Other team members included Marcus Best, Bart Oude-Vrielink, Stephanie Rowland and David Schiavello.

Other legal advisors included Ashurst, advising CGNPC-URC on UK legal aspects; Guantao Law Firm (China), advising CGNPC-URC on PRC law aspects of the transaction and Koep & Partners (Namibia), advising CGNPC-URC on Namibian law aspects.

Like this story? Read more:

Book commemorates diamond milestone for WA law society

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

Minters drives Namibian uranium offer
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Lawyers take to Twitter to share career stories
Jan 22 2018
Lawyers take to Twitter to share career stories
The #mypathtolaw hashtag has been embraced by legal eagles to swap stories with the Twitter communit...
Jan 22 2018
Legal body disappointed with DPP emails leaked to tabloid
The NSW Bar Association has expressed “profound disappointment” over leaked emails from the NSW ...
Gavel, legal book, criminal lawyers
Jan 19 2018
Three criminal lawyers named NSW magistrates
The NSW Attorney-General has announced the appointment of three new local court magistrates. ...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...