Mining Weekly reported that Tanzania is trying to collect $206 million in taxes from Russian miner JSC Atomredmetzoloto (ARMZ), who has been awarded the licence to build the country's first uranium mine.
Australia, the third-largest uranium producer in the world, is home to nearly one-third of the world’s known uranium resources.
Mining Weekly reported that Uranium One announced the appointment of Grier Colter as its new executive vice president and chief financial officer, and will take the place of Graham du Preez.
Mining Weekly reported that Uranium One, which is currently in the process of being privatized by its largest shareholder, ARMZ, reported a fourth quarter net loss of $68.8 million after writing down its Mantra Resources investment.
Reuters reported that Uranium One shareholders have approved the offer made by Russian uranium company ARMZ to take it private, in which the latter has agreed to pay C$1.3B.
The ARMZ-Uranium One deal is yet another positive signal that industry heavies know the uranium market is at a bottom and the time is ripe for picking up assets.
This week, the Virginia General Assembly will take up proposed legislation to end the state's 31-year moratorium on uranium mining permits in what is expected to be a tight vote.
Uranium One Inc. (TSX:UUU) announced that it has agreed to sell itself to JSC Atomredmetzoloto (ARMZ) and Effective Energy NV, its affiliate, for C$2.86 per share, which amounts to a total of C$1.3 billion. ARMZ already owns 51.4 percent of Uranium One's common shares.
In an exclusive interview with Uranium Investing News, Gary Clark analyst at Roubini Global Economics discussed the demonstrable longer term effect on nuclear power generation policy in several countries of interest.
The current spot market price rebounded resiliently 13 percent on strong volumes, as 21 transactions involving a total of more than 3.6 million pounds of uranium were concluded last week, which removed the most aggressively priced supply from the market.
Get our independent commentary on uranium trends and companies delivered to your inbox.
