JSC Atomredmetzoloto, known as ARMZ, a 51% shareholder, has increased its stake in Uranium One, one of the world’s largest publicly traded uranium producers, with a definitive agreement to acquire the remaining shares for a cash consideration.

The agreement will allow ARMZ to acquire the remaining shares of Uranium One, which will bring equity value for Uranium One of approximately CA$2.8 billion(approximately R24.8 billion) in funds.

Uranium One chairman, Vadim Jivov says: “Despite the uranium industry’s currently challenging outlook, ARMZ will continue with its strategy of developing Uranium One into the leading global uranium producer, which was the basis of our original investment in the company,”

ARMZ will pay approximately CA$2.86(R25.25) per share in Uranium One.

Uranium One recently announced a 23% increase in its quarter three production to 3.1 million pounds.

Uranium One is listed on the TSX and on the JSE with assets in Kazakhstan, Tanzania, the US and Australia.

In Kazakhstan, Uranium One has a 70% interest in the Betpak Dala joint venture, which owns the Akdala mine and the South Inkai mine. The corporation also owns a 50% interest in the Karatau joint venture, which owns the Karatau mine, and a 30% interest in the Kyzylkum joint venture, which owns the Kharasan project. In December 2010, Uranium One acquired a 50% interest in the Akbastau joint venture, which owns the Akbastau mine, as well as a 49.67% interest in the Zarechnoye joint venture, which owns the Zarechnoye mine and the South Zarechnoye project.

In the US, the corporation owns 100% of the Willow Creek project and has a number of development projects in the Powder River and Great Divide Basins in Wyoming. In Australia, the corporation owns a 100% interest in the Honeymoon uranium project.

Following the completion of the acquisition of Mantra Resources by ARMZ in June 2011, Uranium One became the operator of the Mkuju River project in Tanzania, and acquired a 13.9% in the project in March 2012.


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