I can think of three reasons:(1) RIO is frightened of what their...

I can think of three reasons:

(1) RIO is frightened of what their main customer (China) might do if RIO forced them into a bidding war for EXT or KAH.

(2) We can expect RIO has done a JV deal with CGNPC (Taurus) to process the ore at Rossing which will keep Rossing operational.

(3) Most likely, RIO will sellout of Rossing when Husab production commences. That way they will get a return from the sale of their shares in Rossing instead of a liability to clean up the site.


The real worry is the whole Husab project is turning into an exclusive affair between Namibia, China and Iran....


Iran has embarked on a charm offensive to keep Namibia in its corner. At the 18th African Union Summit held in Addis Ababa on 29-30 January, Iran's Foreign Minister Ali Akbar Salehi met on the sidelines with Namibian President Hifikepunye Pohamba and expressed his country’s willingness to collaborate with Namibia in the fields of industry, science, technology and medicine.

Salehi also informed Pohamba of Iran's intention to open an embassy in Windhoek in the near future. Pohamba in turn informed Salehi of Namibia's need for the construction of oil refineries and said that Windhoek would welcome Iran's cooperation on such projects as well as stressing the necessity of expanding bilateral ties with Iran particularly in the industrial and oil sectors while discussing Iran's shares in the Rossing Uranium Mine, which produces 7 percent of the world’s uranium.

http://oilprice.com/Latest-Energy-News/World-News/Iran-Sanctions-Felt-as-Far-as-Namibia.html