Chinese tycoon seeks control of Letlhakane uranium project
Friday, January 17, 2020
A-Cap shareholders are due to vote on the offer by March and although directors have said the offer is unfair, they also say it is reasonable.
Jiandong’s Shenke Holdings has tabled an offer to Jiangsu Shengen Resources group for its 41% stake in A-Cap. That stake would give Jiandong control of the firm, with the two other major investors holding a collective 34%.
While it is widely acknowledged that Khama holds the title of Kgosi, the government’s failure to properly gazette his recognition has raised serious concerns about adherence to legal procedures and the credibility of traditional leadership. (See a story elsewhere in this newspaper.) Recent court documents by the Minister for Local Government and Rural Development, Kgotla Autlwetse, shed light on the intricacies of Khama’s recognition process....