The firm in December had to launch a takeover bid for Extract if it acquired 50% of Kalahari Minerals.

The project is the fourth-largest uranium-only deposit in the world, which is near to Rio Tinto’s Rossing uranium mine.

Rio Tinto holds a 14.2% interest in Extract, while Kalahari Minerals holds the largest shareholder with a 42.74% stake, reports

Taurus Resources is a subsidiary of the Chinese state-owned Guandong Nuclear Power Group.