find the latest legal job
Part Time Risk & Compliance Officer
Category: Other | Location: Brisbane QLD 4000
· Brisbane City · Flexible Part Time Hours
View details
Infrastructure Lawyer/SA
Category: Construction Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Global elite law firm · Dedicated Infrastructure team
View details
Property Lawyer
Category: Property Law | Location: All Melbourne VIC
· 12 Month Contract · Diverse Work
View details
In-House Legal Counsel (Mid to Senior)| Regulated Markets (Energy and Gas)
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Full PD on Request · Exciting High Impact Role
View details
Family Lawyer
Category: Family Law | Location: Eastern Suburbs Melbourne VIC
· Boutique Firm · Great Reputation
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:

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

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Minters drives Namibian uranium offer
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Law Council of Australia
06:04
LCA calls for urgent adoption of ‘game-changing’ recommendation
The Law Council of Australia has urged for the immediate adoption of a key recommendation put forwar...
Sally Wheeler
Nov 20 2017
ANU College of Law appoints new dean
A distinguished legal academic and the former head of law of a higher education institution in Irela...
Violence
Nov 17 2017
It's time for politicians to commit to eradicating domestic violence
The national shame of domestic violence cannot be left unaddressed, writes Christine Smyth. ...
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 & ...