Uranium One, Inc., a Canadian uranium producing company, entered into an agreement to acquire 100% interest in MALCO, a uranium joint venture company.
Online PR News – 18-February-2010 – – Uranium One, Inc., a Canadian uranium producing company, entered into an agreement to acquire 100% interest in MALCO, a uranium joint venture company. The Company has a diversified portfolio of uranium assets located in Kazakhstan, the United States, Australia and South Africa. MALCO, which is a joint venture company formed by AREVA and EDF owns uranium resources and processing facilities in Wyoming, USA. The transaction is expected to close during the first half of 2010 and is subject to regulatory approvals including US Nuclear Regulatory Commission, Wyoming Department of Environmental Quality, Texas Commission on Environmental Quality and the Committee on Foreign Investment in the United States.
Acquisition of existing and licensed uranium production facilities of MALCO in Wyoming region will help diversify the permitting and construction risk related with the development of Uranium One’s own central uranium production plan.
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