Base Titanium’s parent company, based in Australia, is set to be acquired by American mineral resources firm Energy Fuels in a significant deal worth Sh31.8 billion (375 million Australian dollars). This transaction signals a strategic shift in ownership and control over the Kenyan operation, especially as the Kwale-based miner approaches its scheduled closure at the end of the year.
The acquisition offer, which includes both cash and stock, represents a substantial premium for Base Resources shareholders, underscoring the attractiveness of the deal for all parties involved. Base Resources shareholders are poised to receive Energy Fuels common shares along with a special dividend, positioning them as significant stakeholders in the combined entity post-transaction.
With Energy Fuels expected to hold the majority stake of approximately 83.6 percent in the combined group, Base Titanium’s leadership team will continue to oversee the development and closure of operations in Kenya while also focusing on the Toliara titanium mining project in Madagascar. This strategic realignment underscores the evolving dynamics of the mineral resources sector and the global investment landscape.
As Base Titanium prepares for the closure of its Kenyan operations, it has made provisions to compensate its workforce, reflecting its commitment to responsible corporate citizenship and employee welfare. This move highlights the company’s proactive approach to managing its transition and underscores its adherence to ethical business practices.
