Uranium One acquires ARMZ mining assets in Kazakhstan

Canadian mining company Uranium One has acquired ARMZ's (JSC Atomredmetzoloto) interests in the Akbastau and Zarechnoye mines in Kazakhstan, marking the completion of the second closing of its transaction.

The transaction consisted of issuance of 178,127,164 new common shares of Uranium One to ARMZ in return for ARMZ’s 50% interest in the Akbastau uranium mine and 49.67% interest in the Zarechnoye uranium mine in Kazakhstan.

ARMZ paid $610m in cash to Uranium One in return for 356 million new common shares of Uranium One, pursuant to a definitive purchase and subscription agreement with ARMZ.

ARMZ currently holds 492,217,929 common shares, representing 51.4% of the outstanding common shares.