NaCC approves CNNC acquisition of stake in Bannerman Energy
The Namibian Competition Commission (NaCC) has approved 11 merger transactions, imposing conditions on two mining-related acquisitions to safeguard public interest objectives, including employment creation, skills development, and greater participation of Namibian businesses in key sectors.
CHAMWE KAIRA The Namibian Competition Commission (NaCC) has approved 11 merger transactions, imposing conditions on two mining-related acquisitions to safeguard public interest objectives, including employment creation, skills development, and greater participation of Namibian businesses in key sectors. The Commission said it assessed each transaction to determine whether it was likely to substantially prevent or lessen competition, create or strengthen a dominant market position, and affect public interest considerations such as employment, industrial development, the participation of small and medium enterprises (SMEs), and the competitiveness of Namibian industries. Among the transactions approved with conditions was the acquisition by CNNC Overseas Limited (CNOL) of a minority interest in Bannerman Energy (UK) Limited.
The deal relates to the Etango Uranium Project, which remains in the development phase and is not yet operational. While the Commission found no competition concerns, it identified public interest issues and imposed conditions aimed at ensuring employment creation, skills development and transfer, and increased participation of Namibian firms, including SMEs, in the uranium value chain. The Commission also approved, subject to conditions, the acquisition of control over Okorusu Holdings (Pty) Ltd and its associated fluorspar mining operations by Huajing Investment Limited and Walvis Bay Minerals (Hong Kong) Limited.
