• Company
    • About
    • Products and markets
    • Management
    • History
    • Development Strategy
    • Business Diversification
    • Contacts
    • Annual reports
    • Encyclopedia
  • Enterprises
  • Shareholders and Investors
    • Corporate management
    • Information disclosure
  • Sustainable development management
    • Environmental
    • Approaches to Sustainable Development Management
    • CSR contact
    • Social responsibility
    • Support for Social Entrepreneurship
    • Public Reporting System
  • Press center
    • News
    • Photo
    • Video
    • Contacts for mass media
  • RU

Press center menu

  • News
  • Photo
  • Video
  • Contacts for mass media
Press center / News /
16 November 2009

ARMZ Uranium Holding Co.’s Transaction With Uranium One Approved by Ministry of Energy and Mineral Resources of Kazakhstan


News Release

ARMZ Uranium Holding Co.’s Transaction With Uranium One Approved by Ministry of Energy and Mineral Resources of Kazakhstan

Moscow, Russia — ARMZ Uranium Holding Co. today announced that the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan has approved the transaction whereby Uranium One Inc. has agreed to purchase from ARMZ Uranium Holding Co., AKA Atomredmetzoloto, a 50% joint venture interest in the Karatau Uranium Mine for consideration which includes an interest in Uranium One equity.

Subject to approvals from the Competition Protection Agency of the Republic of Kazakhstan and the Australian Foreign Investment Review Board and to the satisfaction of usual and customary closing conditions, ARMZ Uranium Holding Co. expects to close the transaction before the end of 2009.

As previously announced, on June 15, 2009, ARMZ Uranium Holding Co. which is the mining arm of Rosatom State Corporation, signed a definitive purchase agreement to sell a 50% interest in the Karatau Uranium Mine in Kazakhstan for consideration of 117 million common shares of Uranium One Inc. (UUU – Toronto Stock Exchange, JSE Limited [Johannesburg Stock Exchange]) through a private placement and a cash payment of US$ 90 million (or equivalent promissory note due within one year of closing). The agreement provides for a contingent payment to ARMZ Uranium Holding Co. of up to $60 million, payable in three equal tranches over the next three years subject to certain post-closing tax-related adjustments. Thus, ARMZ Uranium Holding Co. will acquire a 16.6% to 19.95% interest in Uranium One Inc., depending on the timing of Uranium One’s transaction with a consortium of Japanese corporations.

In welcoming the decision made by the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan, Director General Vadim Zhivov of ARMZ Uranium Holding Co. stressed, ‘The closing of the transaction brings Rosatom State Corporation in partnership with Uranium One to the second place among foreign uranium producers operating in Kazakhstan in the terms of uranium resource base. Most importantly, this strategic relationship forms a global platform for Rosatom’s further expansion in the world’s uranium markets. After the deal is closed, the Russian nuclear industry’s uranium resources will have increased by 15% since the start of the international expansion, which commenced earlier this year’.

The Karatau Uranium Mine

Karatau is located in close proximity to the Akdala and South Inkai Mines of Uranium One’s 70% owned Betpak Dala joint venture. Karatau commenced commercial production in 2008 and produced 1.7 million pounds U3O8 in that year. For 2009, Karatau is expected to produce approximately 3.6 million pounds U3O8, at a total cash cost per pound sold of approximately $15 per pound. Karatau is expected to reach annualized steady state production of 5.2 million pounds of U3O8 per year during 2010. 

The other 50% interest in Karatau is held by Kazatomprom, the Kazakh-stated owned mining company which also holds joint venture interests in Uranium One’s other Kazakh mines and projects.

In 2008, the Kazakhstan State Committee on Reserves approved a resource at Karatau of 28.3 million pounds U3O8 in the C1 category, 19.0 million pounds U3O8 in the C2 category and additional P1 resources of 82.2 million pounds U3O8.

About ARMZ Uranium Holding Co.

ARMZ is the world’s fifth largest uranium producer with operating mines in Russia and Kazakhstan. During 2008, operations in which ARMZ is involved produced 3.687 tonnes of uranium (9.6 million pounds of U3O8). It is owned by Rosatom, the Russian State Corporation for Nuclear Energy, and is appointed and authorized by Rosatom to supply fuel for the Russian nuclear industry.

About Uranium One

Uranium One is one of the world’s largest publicly traded uranium producers with a globally diversified portfolio of assets located in Kazakhstan, the United States, South Africa and Australia.   

For further information, please contact:
Vadim L. Zhivov
Director General
Phone: +7-495-508-8808, Ext. 138-9
Dmitry O. Shulga
Director, External Affairs & Investor Relations
Phone: +7-495-508-8808, Ext. 310
Artem V. Gorbachev
Phone: +7-495-508-8808, Ext. 241

See also

13 May 2022

E.P. Slavsky PIMCU Gradually Replaces Foreign-Made Equipment with Domestic Machines

11 May 2022

Rosatom Mining Division Companies Celebrated 77th Anniversary of Great Patriotic War Victory

06 May 2022

ARMZ Took Part in Annual Clean-Up Campaign in Regions of Operation

  • RU
  • Company
    • About
    • Products and markets
    • Management
    • History
    • Development Strategy
    • Business Diversification
    • Contacts
    • Annual reports
    • Encyclopedia
      • Uranium history
      • Types and properties
        • Physical Properties
        • Chemical Properties
        • Geochemical Peculiarities
        • Commercial Types of Uranium Deposits
        • Classification of Resources of Uranium Deposits
        • Major World Uranium Deposits
      • Uranium mining
        • Open Pit/Underground Mining
        • Heap Leaching
        • In-Situ Leaching (ISL)
      • Uranium and ecology
  • Enterprises
  • Shareholders and Investors
    • Corporate management
    • Information disclosure
      • Charters and related documents
  • Sustainable development management
    • Environmental
    • Approaches to Sustainable Development Management
    • CSR contact
    • Social responsibility
      • Key Projects (2014-2020)
    • Support for Social Entrepreneurship
      • Program Implementation (2017)
    • Public Reporting System
      • Annual Reports (2014-2017)
  • Press center
    • News
    • Photo
    • Video
    • Contacts for mass media
  • RU
For cookies eng: This website uses cookies. By continuing to use this website, you agree to our cookie policy. Read more
Contacts
© 2007-2022 JSC Atomredmetzoloto
Print version
Contacts
© 2007-2022 JSC Atomredmetzoloto
  • RU

Cookies

We use cookies and similar tools across our websites to improve their performance and enhance your user experience.

What are cookies?
Cookies are small text files which a website may put on your computer or mobile device when you first visit a site or page. The cookie will help the website, or another website, to recognize your device the next time you visit. Web beacons or other similar files can also do the same thing. We use the term “cookies” in this policy to refer to all files that collect information in this way.

There are many functions cookies serve. For example, they can help us to remember your username and preferences, analyze how well our website is performing, or even allow us to recommend content we believe will be most relevant to you.

Certain cookies contain personal information – for example, if you click to “remember me” when logging in, a cookie will store your username. Most cookies won’t collect information that identifies you, and will instead collect more general information such as how users arrive at and use our websites, or a user’s general location.

Does anyone else use cookies on ARMZ websites?
Advertisers sometimes use their own cookies to provide you with targeted advertising. For example, advertisers may use a profile they have built on sites that you have previously visited to present you with more relevant advertisements during your visit to our site. We believe that it is useful to our users to see advertisements that are more relevant to their interests. If you are based in the European Union and would like to learn more about how advertisers use these types of cookies or to choose not to receive them, please visit www.youronlinechoices.eu.

We also use or allow third parties to serve cookies that fall into the four categories above. For example, like many companies, we use Google Analytics to help us monitor our website traffic. We may also enable third parties to serve cookies to help to identify fraudulent or non-human traffic on some of our websites. We may also use third party cookies to help us with market research, revenue tracking, improving site functionality and monitoring compliance with our terms and conditions and copyright policy.

Can a website user block cookies?
As we’ve explained above, cookies help you to get the most out of our websites. However, if you do wish to disable our cookies then please follow the instructions on https://www.wikihow.com/Disable-Cookies. Please remember that if you do choose to disable cookies, you may find that certain sections of our website do not work properly.

Do we track whether users open our emails?
Our emails may contain a single, campaign-unique “web beacon pixel” to tell us whether, and how many times, our emails are opened and verify any clicks through to links or advertisements within the email. We may use this information for purposes including determining which of our emails are more interesting to users, to query whether users who do not open our emails wish to continue receiving them, to check that content is being used in accordance with our terms and conditions, and to inform our advertisers in aggregate how many users have clicked on their advertisements. The pixel will be deleted when you delete the email. If you do not wish the pixel to be downloaded to your device, you should select to receive emails from us in plain text rather than HTML.

More detail on how businesses use cookies is available at www.allaboutcookies.org.

If you have any queries regarding this Cookie Policy please contact our Privacy Officer by e-mail at pr@armz.ru.