China National Uranium (SHE:001280), through unit CNNC Overseas, agreed to acquire 45% of Bannerman Energy's (ASX:BMN) U.K. subsidiary for a consideration of up to $322 million, according to a Shenzhen bourse filing on Friday.

The target company, Bannerman Energy (UK), holds 95% of Bannerman Mining Resources (Namibia), the owner of Namibia's Etango uranium mine.

After the completion of the transaction, the Chinese uranium miner will hold 42.75% of the mine, which has resources of about 80,000 tons of contained uranium metal.

The company's shares dropped 3% during the morning trade.