That is the final step in achieving all the essential permits, allowing Husab to move into the production phase. A clear path to developing a mine would also make Extract a additional inviting target. Indications are that China Guandong Nuclear Power Corp is set on a fresh bid for Kalahari Minerals, which would under Australian takeover rules trigger an present for its primary asset, 43 per cent-owned Extract.
Extract this week said it was conscious that CGNPC was talking to Namibia’s state-owned Epangelo Mining regarding buying a 10 per cent interest in Husab - something that CGNPC could only sign off on if it proscribed the mining project. Extract said plans for infrastructure such as power and water for Husab are well advanced.
"Discussions with potential debt financiers of the project are well under way, and the company continue to appraise offtake arrangements and opportunities for asset in the project by strategic partners," said Jonathan Leslie, chief executive and managing director of the Perth-based firm. Analysts have long optional Rio is a logical buyer of Extract, given its scale and the nearness of its operating mine to Husab..
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