Rosatom in U.S. Uranium

By The Moscow Times

Dec. 6, 2010

ARMZ, the uranium-mining unit of Rosatom, may soon control as much as half of U.S. uranium production, after U.S. authorities approved its purchase of 51 percent of Canada’s Uranium One, the Financial Times reported.

The purchase of the stake in Uranium One, which owns mines in Wyoming, was approved in October by the Committee on Foreign Investments in the U.S. and last month by the U.S. Nuclear Regulatory Commission, the newspaper said.

Eighty percent of uranium used in the U.S. is imported and Russia is one of the biggest suppliers; the uranium price has risen from $40 to $60 a pound since the summer, the paper said.

(Bloomberg)

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