Uranium One

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Uranium One Inc.
Industry Mining
Founded 2005
Headquarters Toronto, Ontario, Canada
Key people
Chris Sattler (CEO)
Vadim Zhivov (President)
Products Uranium
Number of employees
Parent Rosatom
Website www.uranium1.com

Uranium One is a uranium mining company with headquarters in Toronto, Ontario, Canada. It has operations in Australia, Canada, Kazakhstan, South Africa and the United States. In January 2013 Rosatom, a Russian State-owned enterprise, through its subsidiary ARMZ Uranium Holding, purchased the company at a value of $1.3 billion.[2] The purchase of the company by Russian interests is currently (as of October 2017) under investigation by the United States House Permanent Select Committee on Intelligence.


On July 5, 2005, Southern Cross Resources Inc. and Aflease Gold and Uranium Resources Ltd announced that they would be merging under the name SXR Uranium One Inc.[3]

In 2007 Uranium One acquired a controlling interest in UrAsia Energy,[4] a Canadian firm with headquarters in Vancouver, from Frank Giustra.[5] UrAsia Energy has interests in rich uranium operations in Kazakhstan.[6] UrAsia Energy's acquisition of its Kazakhstan uranium interests from Kazatomprom followed a trip to Almaty in 2005 by Giustra and former U.S. President Bill Clinton where they met with Nursultan Nazarbayev, the leader of Kazakhstan. Substantial contributions to the Clinton Foundation by Giustra followed, [5][7][8] with Clinton, Giustra, and Mexican telecommunications billionaire Carlos Slim in 2007 establishing the Clinton Foundation's Clinton Giustra Sustainable Growth Initiative to combat poverty in the developing world.[9] In addition to his initial contribution of $100 million Giustra pledged to contribute half of his future earnings from mining to the initiative.[9]

In June 2009, the Russian uranium mining company ARMZ Uranium Holding Co. (ARMZ), a part of Rosatom, acquired 16.6% of shares in Uranium One in exchange for a 50% interest in the Karatau uranium mining project, a joint venture with Kazatomprom.[10] In June 2010, Uranium One acquired 50% and 49% respective interests in southern Kazakhstan-based Akbastau and Zarechnoye uranium mines from ARMZ. In exchange, ARMZ increased its stake in Uranium One to 51%. The acquisition resulted in a 60% annual production increase at Uranium One, from approximately 10 million to 16 million lb.[11][12] The deal was subject to anti-trust and other conditions and was not finalized until the companies received Kazakh regulatory approvals, approval under Canadian investment law, clearance by the US Committee on Foreign Investments, and approvals from both the Toronto and Johannesburg stock exchanges. The deal was finalized by the end of 2010.[12] Uranium One paid its minority shareholders a significant dividend of 1.06 US Dollars per share at the end of 2010.

ARMZ took complete control of Uranium One in January 2013[2] in a transaction which was reviewed by the Committee on Foreign Investment in the United States.[7] In December 2013 an internal reorganization of Rosatom extinguished the interest of ARMZ making Uranium One a direct subsidiary of Rosatom.[3]

Congressional investigation

In October 2017, due to revelations from the 2017 Special Counsel investigation, the United States House Permanent Select Committee on Intelligence opened an investigation into the approval of the purchase of Uranium One by Russian interests. Of particular interest to the committee, according to media reports, is that at the time of the approval of the purchase by the Obama administration, an undisclosed FBI investigation into related Russian activities was ongoing.[13]

See also


  1. "Company Profile for Uranium One Inc (CA;UUU)". Retrieved 2008-10-10.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  2. 2.0 2.1 Commodities; Mining (2013-01-14). "Uranium One bought by top Russian shareholder ARMZ for $1.3-billion". Financial Post. Retrieved 2017-08-31.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  3. 3.0 3.1 WISE Uranium Project "Following the completion of the Going Private Transaction, and an internal reorganization by ARMZ's parent corporation, Russia's State Atomic Energy Company 'Rosatom' in December 2013, Uranium One is now a wholly owned indirect subsidiary of Rosatom and is no longer controlled by ARMZ." updated April 1, 2015, accessed April 23, 2015
  4. Kazakhstan probing sales of uranium deposit shares
  5. 5.0 5.1 An Ex-President, a Mining Deal and a Big Donor, by Jo Becker and Don Van Natta Jr., The New York Times: January 31, 2008
  6. "UrAsia Energy Ltd." updated 21 April 2007, accessed 23 April 2015
  7. 7.0 7.1 Jo Becker and Mike Mcintire (April 23, 2015). "Cash Flowed to Clinton Foundation as Russians Pressed for Control of Uranium Company". The New York Times. Retrieved April 23, 2015. Canadian mining financier Frank Giustra orchestrated his first big uranium deal, with Mr. Clinton at his side.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  8. Jo Becker and Don Van Natta Jr. (January 31, 2008). "After Mining Deal, Financier Donated to Clinton". The New York Times. Retrieved April 23, 2015. The monster deal stunned the mining industry, turning an unknown shell company into one of the world's largest uranium producers in a transaction ultimately worth tens of millions of dollars to Mr. Giustra, analysts said.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  9. 9.0 9.1 Parsons, Claudia (June 22, 2007). "Clinton, mining industry launch anti-poverty effort". Reuters. Retrieved October 22, 2017.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  10. "Kazakh tie-in for Uranium One and ARMZ". World Nuclear News. 2009-06-15. Retrieved 2009-06-24.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  11. Uranium One to Acquire Two More Kazakh Mines from ARMZ and To Pay Special Dividend to Minority Shareholders of at least US$ 1.06 per Share
  12. 12.0 12.1 "ARMZ takes hold of Uranium One". World Nuclear News. 2010-06-09. Retrieved 2010-06-09.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  13. [1] [2]

External links