There's a couple of aspects about the sale of Rio shares to...

There's a couple of aspects about the sale of Rio shares to CGNPC which I'll mention and will be interested in others' views.

First of all, its almost midday here in London and still no update from CGNPC/Taurus on whether they have crossed the 50% threshold for Kalahari.
Looks like we may have to wait for an announcement on Feb 3; but if CGNPC has crossed the threshold already would Deutsche Bank not already have announced this? Maybe they are still short and hoping the required extra acceptances will come in today.
On the share sale; its somewhat intriguing that the announcement was made by Rossing Uranium Ltd in Namibia. There has been no announcement by Rio itself on the London market. When I asked Rio's press guy in London he refused to comment but just referred to the 31 Jan announcement by Rossing (now rebrabde Rio Tinto Rossing BTW).

But if you look at the Kalahari share register the Rio shareholding entity is the Melbourne-based Rio Tino International Holdings Australia not Rossing.

Now I seem to recall that in its 2010 or 2009 annual report Rio did say the shareholding was to be transferred to Rossing as part of the strategy of pursuing a joint venture development of Husab- ie linking it up with Rossing.

But should that change not have been formerly notified? It seems to have been an internal transfer within Rio. Arising from that- if as Rossing says the shares sold to CGNPC belong to it, who gets ther proceeds of the sale?
If the money goes to Rossing rather than to Rio (Rossing is 69% owned by Rio not 100% owned) then what would it do with the money?