[miningmx.com] — THE JSE-listed shares in Uranium One on Thursday ticked up 6%, after the Toronto-based uranium producer said it received approval from the US Nuclear Regulatory Commission to proceed with its deal to sell a controlling stake in itself to a Russian state-owned miner.
The group was traded at 201c around 12:30, up 6.03% for the day so far.
The company would now proceed to complete the initial closing of the transaction, comprising the issue of 178.127 million new common shares of Uranium One to JSC Atomredmetzoloto (ARMZ) in return for $610m in cash. The record and payment dates for a special dividend of $1.06 will be fixed and disclosed when the initial closing is completed.
The final stage of closing, comprising the acquisition of ARMZ’s interest in the Akbastau and Zarechnoye mines in return for another 178.1 million new shares of Uranium One, will occur prior to the end of December.
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 and Australia.
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. It is owned by Rosatom, the Russian State Corporation for Nuclear Energy, and is appointed and authorised by Rosatom to supply fuel for the Russian nuclear industry.
