Canada-based Uranium One, the world's tenth largest uranium producer, yesterday announced an agreement to sell a 19.95% stake to a Japanese consortium made up of the Tokyo Electric Power Company, Toshiba Corporation and the Japan Bank for International Cooperation. The stake will be sold by way of a private placement of 117 million shares worth C$270 million $217 million to the three Japanese firms.
The deal includes a long-term offtake agreement and will see the two parties form a strategic relationship. The Japanese consortium will have the option to buy up to 20% of Uranium One's production as well as a right of first refusal to invest in any uranium mining project that Uranium...
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