[miningmx.com] — GOLD One International has received unconditional approval from South Africa’s competition authorities to go ahead with its two significant transactions, one being the takeover of Rand Uranium and the buyout by a Chinese consortium the other.
The company announced in April it would buy Rand Uranium for $250m in cash. This was followed by an agreement with a consortium of Chinese investors, led by Baiyin Nonferrous Group, to obtain a majority stake in Gold One by means of a series of interdependent transactions.
“All other remaining regulatory conditions precedent to the transaction which include.approval by the Namibian Competition Commission as well as relevant Chinese approvals, are progressing well and in line with the anticipated timetable,’ read a company statement issued on Monday.
With regards to the Rand Uranium transaction, Gold One said it had already received approval from the exchange control department of the Reserve Bank for various aspects of the transaction. It has also made a submission to the department of mineral resources.
