China National Uranium (SHE:001280) subsidiary CNNC Overseas completed the acquisition of a 45% stake in Bannerman Energy UK, which holds the Etango uranium project in Namibia.

The full consideration of up to $322 million has been paid, according to a Monday filing with the Shenzhen bourse.

Following the transaction, China National Uranium indirectly holds a 42.75% interest in the Etango project.