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Wednesday, March 23, 2011

China's CGNPC may cut bid for Kalahari

State-owned China Guangdong Nuclear Power may cut its proposed 756 million pound ($1.2 billion) offer for uranium miner Kalahari Minerals in light of Japan's nuclear crisis, a CGNPC official said on Wednesday. The official said CGNPC and Kalahari, which backed the original proposal, were discussing the impact of Japan's nuclear crisis on both companies' prospects. "The two parties are in touch to do an assessment," an official of CGNPC Uranium Resource Co, a unit of CGNPC, told Reuters.

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