The global prices for uranium are falling since the accident at Fukusima plant, but, according to the ARMZ
forecast, they will start rising again in 2020, and there are several new projects ready to be launched shortly after that.
Neither Uranium One nor ARMZ
holds an NRC export license, so no uranium produced at either facility can be exported.
By 2019, ARMZ
plans to launch an open-pit mine that will produce 2.
Inspired by the success stories of Uranium One and Mantra Resources, we believe that ARMZ
may follow the same path by acquiring foreign companies to develop its REE expertise.
is controlled by Rosatom, the Russian Federation's state agency that oversees the Russian nuclear industry.
The acquisition agreement also provides for a contingent payment to ARMZ
of up to USD60m, payable in three equal tranches over the period between 2010 and 2012 subject to certain post-closing tax related adjustments.
The Bloomberg Markets 50 Summit is a production of Bloomberg LINK, sponsored by Tri-State Area Audi Dealers, Societe Generale, ARMZ
Uranium Holding Co.
The event, titled "Modern Technologies of Mining Enterprise Management 2011," attracted more than 100 executives from some of the region's largest mining organizations, including Uralkali, Kazakhmys, Severstal Resource, Metalloinvest, ENRC, Ferrexpo, Mechel, NLMK, Polus Gold, Alrosa, ARMZ
, Evrokhim and Polymetal.
The Russian nuclear industry was represented by more than 40 companies of ROSATOM, including Rosenergoatom Concern JSC, Fuel Company of ROSATOM TVEL, JSC Atomenergomash, ASE Group of Companies, JSC Science & Innovations, Uranium Holding ARMZ
Russian uranium production is conducted by a monopoly, ARMZ
Uranium Holding, a subsidiary of state-owned Rosatom.
Pursuant to the agreement, which was unveiled in January, ARMZ
and its affiliate Effective Energy NV, together owning 51.
The company is likely to use funds from the offering to pay its Russian parent ARMZ
for the Mkuju River project in Tanzania.