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From Namibian newspaper

A marriage of two Rossings on the cards?

THE top brass of Extract Resources, owners of Rossing South, is meeting with President Hifikepunye Pohamba this afternoon to brief him on plans to develop the uranium deposit into one of the biggest uranium mines in the world.

Mark Hohnen, Executive Chairman of Kalahari Minerals, which has 40 per cent shares in Extract, confirmed the meeting yesterday.
They will use the opportunity to introduce Extract's new Executive Director, Jonathan Leslie, and "to provide a progress report on the Rossing South project, as it enters this transformational period in its development - transforming from a pure exploration company to a one tier uranium production company," Hohnen said in statement on the Kalahari website.
Leslie's appointment adds fuel to persistent rumours of a marriage between Rio Tinto's Rossing Uranium and Extract's Rossing South. Leslie was a former managing director at Rossing Uranium.
Last week Rossing Uranium spokesperson Jerome Mutumba said his company has suggested a joint venture with Rossing South.
Mutumba said Rossing Uranium has proposed to transport ore from Rossing South to Rossing Uranium to be processed.
"Rossing South is only seven kilometres from the Rossing pit, and the mines could share significant infrastructure.
We see potential for Rossing South and Rossing working together on a joint development, as this will provide value to both Rossing and Extract Resources," he said.
Rio Tinto already has 15 per cent shares in Rossing South. However, it also holds 14 per cent of the shares in Kalahari Minerals, and therefore effectively owns 21 per cent in Rossing South.
A Consortium of Korean companies led by Korea Electric Power Corp (Kepco) is also keen to get their hands on shares in Rossing South. State-run utility Kepco, Korea Hydro and Nuclear Power Co, and Korea Resources Corp are looking to take a stake of around 15 per cent in Rossing South, Dow Jones Newswires recently reported.
Extract's wholly-owned subsidiary Swakop Uranium plans to have Rossing South in production by the end of 2013.
It can be ramped up to full production within 18 months after that, Swakop Uranium Chief Executive Officer Norman Green said.
The mine has the potential to produce 15 million pounds of uranium oxide a year, making it one of the three biggest uranium mines in the world.
- Additional reporting by Nampa