June 7 (Bloomberg) -- Extract Resources Ltd. said it’s in discussions to sell a stake in its Husab uranium project to Namibia’s state-owned Epangelo Mining Co.
“We continue to have discussions with Epangelo,” Chief Executive Officer Jonathan Leslie said in a phone interview today from London. The talks with the government involve a potential “transaction on a commercial basis,” he said.
Extract, the uranium explorer 43 percent owned by Kalahari Minerals Plc, expects Husab to become the second-biggest uranium deposit in the world, Leslie said. Extract has “no reason for concern” on its application for a mining license in Namibia, he said.
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