Osino awaits Namibian competition approval to proceed with takeover by Chinese miner
Communications between Canadian miner Osino and the Namibian Competition Commission (NCC) continue to progress positively as the NCC considers the application of the previously announced statutory plan of arrangement pursuant to which precious metals miner Shanjin International Gold will take over Osino at C$1.90 a share.
After receiving the third of three Chinese regulatory approvals on May 28, the NCC’s competition law clearance remains the only outstanding approval to conclude the arrangement between the companies.
Osino and Shanjin, formely known as Yintai Gold, expect the NCC to consider the transaction at its next board meeting which is scheduled for August, ahead of the end of the statutory review period of the acquisition early in September.
The parties have, however, made provision for the possibility that the NCC approval would not be obtained in time and therefore allowed for the date to be extended by 30-day increments for up to 90 days.
This date was already extended from June 30 to July 30 and again to August 29, leaving one more extension available.
Osino is focused on developing the Twin Hills gold mine in central Namibia, where the company has completed more than 250 000 m of drilling and a range of specialist studies.
The latest definitive feasibility study on the project envisions an openpit gold operation producing 162 000 oz/y over a 13-year mine life.
Comments
Latest Multimedia
Latest News
Showroom
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
