Chinese interested in buying Rio’s Namibian uranium business

Rio Tinto (ASX, LON:RIO), the world’s second largest miner, has been talking to China National Nuclear Corporation (CNNC) about selling the state-owned miner its stake in Namibia’s Rössing uranium mine.

While the mining giant has not officially acknowledged the negotiations with CNNC, Namibia’s energy minister Simeon Negumbo confirmed them to local paper The Namibian.

Rio has close to a 69 percent interest in the mine, the world's longest-running open pit uranium operation, while the rest is held by the Iranian Foreign Investment Company (15 percent), the Industrial Corporation of South African (10 percent), the government of Namibia (3 percent) and local interests (3 percent).

More to come…

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