Description of Activities

The Commission resolved to approve with conditions the acquisition by 1466331 B.C. LTD of shares in Osino Resources Corp. 

The primary acquiring undertaking is a recently established undertaking, a wholly owned subsidiary of Hainan Shengwei Trading Co., Ltd which is Chinese undertaking that is ultimately controlled by Yintai Gold Co., Ltd. The acquiring group’s main business is the exploration and mining of precious and non-ferrous metals, as well as metal trading (including gold) in China.

The primary target undertaking, Osino operates as a Canada-based gold exploration and development company, whose principal business activity is the acquisition, exploration, and development of gold mining properties in Namibia. 

 The product market is defined as the market for the exploration of Minerals

Merger Determination

Although the proposed transaction is unlikely to result in the prevention or substantial lessening of competition or in any undertaking acquiring or strengthening a dominant position, it does, give rise to significant public interest concerns. Given that the target undertaking’s Mining License 238, was approved with conditions supporting local Namibian beneficiation and in order to ensure employment and local procurement are safeguarded and promoted once the mine begins operating, the Commission approved the merger subject to local beneficiation, employment and the Mining License 238 conditions.

However, as stated under section 50 of the Act, this approval does not relieve parties from complying with any other mandatory statutory approvals that any of the parties to this merger must comply with under Namibian Laws.