A subsidiary of Rosatom already owns 49% of Uranium One and, once the deal is completed in the September quarter, the company will have 100% stake.

The deal is due to pass the Foreign Investment Review Board’s (FIRB) criteria set out.

Earlier this year, the Wiluna uranium mine in Western Australia has received Toro Energy environmental approval from the Federal Government.

Located 75km north-west of Broken Hill city in Southern Australia, Honeymoon uranium mine is an advanced in-situ recovery (ISR) project owned and operated jointly by Canada based Uranium One (51%) and Japan based Mitsui (49%).

Uranium One, a uranium mining and exploration company, owns assets in Kazakhstan, US and Australia, and operates the Mkuju River project in Tanzania.