uranium-one-sells-20-stake-to-japanese-investors

Uranium One sells 20% stake to Japanese investors

A Japanese consortium has bought a stake in the world's tenth largest uranium producer and gained access resources in Kazakhstan.

Canada-based Uranium One, the world's tenth largest uranium producer, yesterday announced an agreement to sell a 19.95% stake to a Japanese consortium made up of the Tokyo Electric Power Company, Toshiba Corporation and the Japan Bank for International Cooperation. The stake will be sold by way of a private placement of 117 million shares worth C$270 million $217 million to the three Japanese firms.

The deal includes a long-term offtake agreement and will see the two parties form a strategic relationship. The Japanese consortium will have the option to buy up to 20% of Uranium One's production as well as a right of first refusal to invest in any uranium mining project that Uranium...

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