Uranium One
Encyclopedia
Uranium One (also known as sxr Uranium One) is a Canadian
based uranium
mining company with operations in Australia
, Canada
, Kazakhstan
, South Africa
and the United States.
On July 5, 2005, Southern Cross Resources Inc. and Aflease Gold and Uranium Resources Ltd announced that they would be merging under the name SXR Uranium One Inc.
In June 2009, the Russian uranium mining company ARMZ Uranium Holding Co.
(ARMZ), a part of Rosatom, acquired 16.6% of shares in Uranium One in exchange for a 50% interest in Karatau uranium mining project, a joint venture with Kazatomprom
. In June 2010, Uranium One acquired 50% and 49% respective interests in southern Kazakhstan-based Akbastau and Zarechnoye uranium mines from ARMZ. In exchange, ARMZ increased its stake in Uranium One to 51%. The acquisition resulted in a 60% annual production increase at Uranium One, from approximately 10 million to 16 million lb. The deal was subject to anti-trust and other conditions and was not finalized until the companies received Kazakh regulatory approvals, approval under Canadian investment law, clearance by the US Committee on Foreign Investments, and approvals from both the Toronto and Johannesburg stock exchanges. The deal was finalized by the end of 2010.
Uranium One paid its minority shareholders a significant dividend of 1.06 United States Dollars at the end of 2010.
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
based uranium
Uranium
Uranium is a silvery-white metallic chemical element in the actinide series of the periodic table, with atomic number 92. It is assigned the chemical symbol U. A uranium atom has 92 protons and 92 electrons, of which 6 are valence electrons...
mining company with operations in Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, Kazakhstan
Kazakhstan
Kazakhstan , officially the Republic of Kazakhstan, is a transcontinental country in Central Asia and Eastern Europe. Ranked as the ninth largest country in the world, it is also the world's largest landlocked country; its territory of is greater than Western Europe...
, South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
and the United States.
History
The company was founded January 2, 1997 as Southern Cross Resources Inc.On July 5, 2005, Southern Cross Resources Inc. and Aflease Gold and Uranium Resources Ltd announced that they would be merging under the name SXR Uranium One Inc.
In June 2009, the Russian uranium mining company ARMZ Uranium Holding Co.
ARMZ Uranium Holding Co.
ARMZ Uranium Holding Co. is a Russian uranium mining company. It is wholly owned by Atomenergoprom, a part of Rosatom.AtomRedMetZoloto was founded in 1992. In 2008, all uranium mines in Russia as also uranium mining related assets in other countries owned by Rosatom subsidiaries were brought under...
(ARMZ), a part of Rosatom, acquired 16.6% of shares in Uranium One in exchange for a 50% interest in Karatau uranium mining project, a joint venture with Kazatomprom
Kazatomprom
Kazatomprom is a state-owned nuclear holding company in Kazakhstan, which operates in the field of Uranium and nuclear fuel cycle services, production of Beryllium, Tantalum and Niobium, and power production...
. In June 2010, Uranium One acquired 50% and 49% respective interests in southern Kazakhstan-based Akbastau and Zarechnoye uranium mines from ARMZ. In exchange, ARMZ increased its stake in Uranium One to 51%. The acquisition resulted in a 60% annual production increase at Uranium One, from approximately 10 million to 16 million lb. The deal was subject to anti-trust and other conditions and was not finalized until the companies received Kazakh regulatory approvals, approval under Canadian investment law, clearance by the US Committee on Foreign Investments, and approvals from both the Toronto and Johannesburg stock exchanges. The deal was finalized by the end of 2010.
Uranium One paid its minority shareholders a significant dividend of 1.06 United States Dollars at the end of 2010.