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Uranium Holding ARMZ Consolidates Uranium Mining Companies in Russia
On July 29, 2008 Uranium Holding ARMZ (OJSC Atomredmetzoloto) completed the consolidation of shares of the Russian uranium mining companies. 78.61% of shares in OJSC PPMCA (Krasnokamensk, Transbaikalia), 99.999% of shares in OJSC Khiagda (Republic of Buryatia, Bauntovsky District, village Bagdarin) and 97.85% of shares in CJSC Dalur (Kurgan Region, village Uksyanskoye) have been contributed to the OJSC Atomredmetzoloto’s equity in consideration for its additionally issued shares.
OJSC Atomredmetzoloto placed 3,955,586,175 common registered book-entry shares with a nominal value of RUR 1 by means of a closed subscription for the additionally issued shares. The issuance will be completed by the end of this year.
With the asset consolidation Uranium Holding ARMZ has made yet another step towards creation of a diversified mining company capable of satisfying the uranium needs of the country. OJSC Atomredmetzoloto («Uranium Holding ARMZ») manages all Russian uranium mining companies and is undertaking a number of uranium mining projects in Kazakhstan. The aggregate uranium reserves of the ARMZ companies in Russia and Kazakhstan amount to 539,000 tons. In terms of uranium reserves, OJSC Atomredmetzoloto ranks second worldwide. 100% of the uranium holding shares are owned by OJSC Atomenergoprom which forms part of the State Corporation for Nuclear Energy Rosatom.