Industry Mining Website www.uranium1.com Number of employees 2,220 | Products Uranium
Gold Headquarters Toronto, Canada Founded 2005 | |
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Key people Chris Sattler (CEO)
Vadim Zhivov (President) Parent organizations Rosatom, ARMZ Uranium Holding Subsidiaries Southern Mining and Chemical Company LLP | ||
Uranium one mining and extraction mp4
Uranium One is a uranium mining company with headquarters in Toronto, Ontario, Canada. It has operations in Australia, Canada, Kazakhstan, South Africa and the United States. In January 2013 Rosatom, a Russian State-owned enterprise, through its subsidiary ARMZ Uranium Holding, purchased the company by a value of $1.3 billion.
Contents
Uranium one inc
History
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 2007 Uranium One acquired a controlling interest in UrAsia Energy, a Canadian firm with headquarters in Vancouver, from Frank Giustra. UrAsia Energy has interests in rich uranium operations in Kazakhstan. UrAsia Energy's acquisition of its Kazakhstan uranium interests from Kazatomprom followed a trip to Almaty in 2005 by Giustra and former U.S. President Bill Clinton where they met with Nursultan Nazarbayev, the leader of Kazakhstan. Substantial contributions to the Clinton Foundation by Giustra followed. The Podesta Group, co-founded by Clinton campaign chief John Podesta, lobbied on behalf of Uranium One.
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 the 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.
ARMZ took complete control of Uranium One in January 2013 in a transaction which was reviewed by the Committee on Foreign Investment in the United States. In December 2013 an internal reorganization of Rosatom extinguished the interest of ARMZ making Uranium One a direct subsidiary of Rosatom.