Antinuclear

South Australia’s Honeymoon uranium mine to be taken over by Russian govt

Uranium One’s Honeymoon Well uranium project in South Australia will move into Russian government hands.

Uranium One to ARMZ? | Industrial Fuels and Power, 9 July 2010,  Uranium One, the second largest uranium company in Canada, is reportedly being taken over by ARMZ, a division of the Russian state nuclear company Rosatom. ARMZ will purchase a 51 per cent stake in Uranium One in exchange for US$610m.
If the deal goes ahead, Uranium One’s Honeymoon Well uranium project in South Australia will move into Russian government hands. According to the Globe and Mail newspaper: “The prospect of Kremlin control of the Canadian company left many investors worried that Uranium One would be pressured to serve Russian strategic interests that do not necessarily deliver the best returns…” and “alarmed industry observers worried that the Vancouver-based company might end up serving the Kremlin’s strategic interests.”

Rosatom is understood to control 40 per cent of the world’s uranium enrichment and builds reactors and fuel assemblies for 70 countries.

Uranium One to ARMZ? | Industrial Fuels and Power

July 8, 2010 - Posted by Christina Macpherson | politics international, South Australia, uranium | antinuclear, Australia, nuclear, nuclear costs, South Australia, uranium