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Extract and Rio are considering combining its uranium projects in Namibia
01.03.2011

Company Extract Resources reported on the talks with Rio Tinto about the possibility of combining uranium project Husab (Husab) from a nearby mine Rossing (Rossing) in Namibia.
In a statement the company said that the union of future projects will result in significant synergies.
Extract is also negotiating with its major shareholder Kalahari Minerals about finding ways to streamline the distribution of equity Extract / Kalahari.
"These negotiations are not completed yet, and their content is confidential, is not yet known whether the parties come to some agreement," - said in a statement Extract.
Extract Resources is the operator Husab uranium project, which annually produces 15 million pounds of uranium oxide. It is believed that Husab is the fifth largest uranium deposits in the world.
Rossing uranium mine being developed by Rio Tinto, the third biggest uranium mine. In 2009, it received 4,150 tons of uranium oxide.

Matthew Nyaungua, Rough & Polished, from Namibia

Rough & Polished