UPDATE 1-Itochu to buy 15 pct in Kalahari Minerals - Nikkei
Buzz up! 0
Companies:EXTRACT RESOURCESITOCHUKalahari Minerals Plc
Topics:CommoditiesMergers & AcquisitionsAsia
Related Quotes
Symbol Price Change
EXT.AX 7.86 -0.14
IOC.MU 6.30 +0.14
KAH.L 185.00 +2.25
MBC.IL 2,250.00 +40.00
MTS1.MU 11.21 +0.20
18:18, Thursday 25 March 2010
March 26 (Reuters) - Japanese trading firm Itochu Corp will buy a 15 percent stake for 8.5 billion yen ($92.28 million) in London-based mining company Kalahari Minerals Plc , the Nikkei (news) business daily said.
The move will give Itochu (Munich: 855471 - news) an effective stake of 6 percent in Rossing South, a 60 billion yen uranium mining project Kalahari is undertaking in Namibia, one of the world's richest sources of the radioactive metal, the paper said.
Itochu's investment in Kalahari Minerals (LSE: KAH.L - news) is expected to ensure a stable supply of uranium for Japan.
Kalahari Minerals is the top shareholder in Extract Resources , the Australia-based sole stakeholder in Rossing South.
The deal comes as a number of countries, including the United States, are planning new nuclear power plants, it said.
Production is slated to begin in 2013 at 5,700 tons a year, the equivalent of more than 10 percent of the uranium mined worldwide in 2008, the paper said.
Output could eventually reach 220,000 tons, making the area the world's second-most productive source of uranium, behind a deposit in Australia, the paper said.
Itochu ranks second in the world in annual uranium sales, with about 4,000 tons.
Rival trading companies Sumitomo Corp (Munich: 860364 - news) , Marubeni Corp , Mitsubishi Corp (MBC.IL - news) and Mitsui & (Munich: 853656 - news) amp; Co are involved in uranium mining projects in Kazakhstan, Australia and other countries, the paper said. ($1=92.11 Yen) (Reporting by Shailesh Kuber in Bangalore; Editing by Ratul Ray Chaudhuri
- Forums
- ASX - By Stock
- EXT
- japs to take 15% of kah
japs to take 15% of kah
-
- There are more pages in this discussion • 39 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add EXT (ASX) to my watchlist
|
|||||
Last
0.9¢ |
Change
0.001(12.5%) |
Mkt cap ! $13.27M |
Open | High | Low | Value | Volume |
0.9¢ | 0.9¢ | 0.9¢ | $71.78K | 7.981M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 850797 | 0.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.0¢ | 13427226 | 14 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 850797 | 0.009 |
8 | 3059329 | 0.008 |
12 | 4998460 | 0.007 |
4 | 1685609 | 0.006 |
1 | 500000 | 0.005 |
Price($) | Vol. | No. |
---|---|---|
0.010 | 13427226 | 14 |
0.011 | 16881150 | 10 |
0.012 | 14538361 | 7 |
0.013 | 10099423 | 3 |
0.014 | 71428 | 1 |
Last trade - 15.10pm 26/07/2024 (20 minute delay) ? |
Featured News
EXT (ASX) Chart |