Source: The Engineer (2/14/09)
"Three Japanese companies will make a substantial joint investment in Uranium One. . ."
The full share issue will be taken up by Japan Uranium Management Incorporated, a special purpose entity established by the three Japanese companies in British Columbia, Canada.
Once JUMI completes the transaction, it will have a holding of about 19.95% in Uranium One. TEPCO and Toshiba will each hold 40% of JUMI's shares and JBIC will hold 20%.
Uranium One has also entered into a long-term off-take agreement and a strategic relationship agreement with the Japanese consortium, both of which will become effective upon closing of the private placement. The off-take agreement provides the consortium with an option to purchase, on industry-standard terms, up to 20% of Uranium One's available production.
Uranium One has a 70% interest in a joint venture in Kazakhstan that owns the Akdala Uranium Mine, which is currently in operation, and the South Inkai Uranium Project, which commenced pre-commercial production in 2007. The company also has a 30% interest in a joint venture in Kazakhstan that is developing the Kharasan Uranium Project.
In the U.S., it has applied for a license to construct and operate a uranium in situ recovery (ISR) facility at Moore Ranch in the Powder River Basin and at JAB/Antelope in the Great Divide Basin of Wyoming. The company also owns the Dominion Uranium Project in South Africa and the Hobson – La Palangana ISR project in Texas.