| Type | Public (TSX: UUU, JSE: UUU) |
|---|---|
| Industry | Uranium, Gold |
| Founded | 1997 |
| Headquarters | Toronto, Ontario, Canada |
| Key people | Chris Sattler (CEO) Vadim Zhivov (President) |
| Employees | 2,220[1] |
| Parent | ARMZ Uranium Holding Co. (51%) |
| Website | www.uranium1.com |
Uranium One (TSX: UUU, JSE: UUU) (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.
Contents |
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.[2]
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.[3] 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.[4][5] 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.[5] Uranium One paid its minority shareholders a significant dividend of 1.06 United States Dollars at the end of 2010.