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Home / Metal News / Nalco Looks For Uranium Assets In Namibia After Copper Mine Bid Fails - Report

Nalco Looks For Uranium Assets In Namibia After Copper Mine Bid Fails - Report

iconSep 7, 2010 10:02

MUMBAI, Sept. 7 -- State-run National Aluminium Co. (532234.BY) and Hindustan Copper Ltd. (513599.BY) are jointly planning to acquire a uranium mine in Namibia after their combined bid for a copper mine failed, the Economic Times reported Monday, citing an unnamed executive at Nalco.

"We suffered a setback in Namibia ... we were examining prospects of a copper mine but mid-way through, the sale offer was withdrawn," the newspaper quoted the executive as saying.

The copper mine's owner, Weatherly International, decided to withdraw the sale offer halfway through the due diligence process, the newspaper said, without elaborating.

 

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