Russian state-owned miner JSC Atomredmetzoloto (ARMZ) has signed a deal to acquire a majority stake in Uranium One (uuu-t) in exchange for its interest in two uranium mines in southern Kazakhstan and 610 million US dollars in cash. Uranium One will issue 356 million shares to ARMZ, bringing its interest in Uranium One from 23.1% to at least 51%. Uranium One would acquire a 50% interest in the Akbastau mine and a 49.67% interest in the Zarech-noye mine from ARMZ, boosting its 2011 total production by 30% to 10.5 million lbs. U_3O_8.
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