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Russia’s Rosatom nuclear corporation now in control of Uranium One

Uranium One gives up control, FINANCIAL POST, June 2010, The company has negotiated a complex deal in which it will hand over a controlling stake of at least 51% in itself to the state-owned Russian uranium companyJSCAtomredmetzoloto (ARMZ). It is a subsidiary of Rosatom, the world’s biggest integrated nuclear firm……”Putting cash in the pockets of our shareholders and being able to grow our business were two very compelling reasons [to do this deal],” Mr. Nortier said……
Not all investors are thrilled with the idea of Uranium One increasing its exposure to Kazakhstan. But Mr. Nortier said the company has worked “very hard” on improving its government relations, and has made a lot of progress.

A year ago, Uranium One was caught up in a scandal when the head of Kazakhstan’s state-owned uranium miner was accused of illegally selling stakes in uranium deposits to foreign companies.

Uranium One gives up control

July 3, 2010 - Posted by Christina Macpherson | politics, Russia | antinuclear, nuclear, nuclear spin, uranium