Canadian firm wins Kazakhstani approval of uranium mine purchase

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VANCOUVER, Canada -- The Kazakhstani Ministry of Industry and New Technologies has approved Uranium One's purchase of Atomredmetzoloto's interests in the Akbastau and Zarechnoye uranium mines in Kazakhstan, Uranium One said in an August 29 statement.

Atomredzoloto owns 50% of Akbastau and 49.67% of Zarechnoye. It is selling those interests in exchange for control of Uranium One, busrep.co.za reported. Uranium One still requires approval of the deal from its shareholders and governmental commissions in Kazakhstan, Australia and the United States.

Uranium One is based in Canada and has assets in Kazakhstan, the United States and Australia. Atomredzoloto is based in Russia.