ARMZ acquires Australian uranium producer in $1.2 bln deal

Forum Contacts RSS		RUSSIAN

RIA Novosti, PUBLISHED December 16, 2010

ARMZ Uranium Holding Co. (Atomredmetzoloto), the Russian uranium mining subsidiary of Rosatom, has agreed to acquire 100% of shares in Mantra Resources, an Australian uranium producer, for 1.2 billion Australian dollars, ARMZ said on Wednesday.

ARMZ will pay eight Australian dollars per share, which represents a 15.5 percent premium on the average market price for 20 trading days. The holding will pay about 22.6 Australian dollars per kilogram of raw materials, according to Mantra Resources.

"The deal with Mantra Resources Limited is a part of ARMZ's strategy to diversify (state nuclear power holding) RosAtom's resource base. It will help the holding increase its asset portfolio with a low uranium production cost, consolidate the state corporation's leading position among global producers of natural uranium," ARMZ said in a statement.

Topics: Uranium, Russia, Australia

Other news:

Arctic expedition diary, blog one

We're setting out tomorrow around 11 a.m. after a visit by Sergei Ivanov and possibly a news conference.

Russia to start building Turkish NPP in 2013

Russia will start building Turkey's first NPP estimated at $20 billion in 2013, Russian ambassador to Ankara Vladimir Ivanovsky said.

Iran installs reactor cap at Bushehr NPP

"The reactor cap was successfully installed," Atomic Energy Organization of Iran (AEOI) Chief Ali Akbar Salehi said.

Hero of the day

Obama nuclear summit: A minor success

Further proof of this fact was provided by Obama Nuclear Security Summit held in Washington on April 12-13. However, this goal is unlikely to be achieved in four years.

INTERVIEW

Christophe Behar
We are preparing now a review of these design options and the decision has to be made in 2012, by the public authorities. ASTRID basic and detailed design will be launched afterwards.

OPINION

Vladimir Rychin
AREVA will return the foreign workers to the uranium deposits in Niger, which have been evacuated after the September seizure of seven hostages.