Extract Says No Merger Talks With Rio

AllAfrica.com reports on the recent talks over the development of uranium assets in Namibia  with Extract Resources (ASX:EXT) and Rio Tinto (ASX:RIO).

The market news is quoted as saying:

Steve Galloway also told Reuters in an interview last week the company had no intention to sell its Husab uranium deposit, the fifth largest of its kind in the world. Analysts have long said Extract could be an eventual target for Rio, whose Rössing mine is near Extract’s Husab deposit. Speculation was renewed this week when the two companies said they were in talks to combine their uranium projects.

Click here to access the entire news release.