 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Sydney (AFP) March 23, 2011 A subsidiary of Russia's atomic energy agency has used Japan's nuclear crisis to slash its planned takeover price for Australian uranium miner Mantra Resources by 12 percent. Last week, the Russian Federal Atomic Agency's ARMZ uranium producer withdrew its Aus$8 ($8.07) a share offer because of the problems at Japan's Fukushima nuclear plant, saying they would affect Mantra's business. It has now offered Aus$7.02 a share, which values the company at Aus$1.02 billion. Mantra advised shareholders on Wednesday to accept what was on the table "after taking into consideration the current global equity market conditions and increased uncertainty for the uranium sector". ARMZ is interested in the Perth-based company because of its flagship Mkuju River project in Tanzania, which has an estimated 39,000 tonnes of uranium reserves. The initial terms of the takeover agreed in December envisioned the Russian firm building a new uranium plant in Tanzania whose initial annual production run of 1,400 tonnes would eventually be expanded to 2,500 tonnes. Mantra Resources also has uranium holdings in Mozambique. ARMZ is the world's fifth-largest uranium producer and also has the world's second largest uranium reserves.
Share This Article With Planet Earth
Related Links Nuclear Power News - Nuclear Science, Nuclear Technology Powering The World in the 21st Century at Energy-Daily.com
Delhi roads riskier than nuclear: India regulatorNew Delhi (AFP) March 22, 2011 India's atomic energy regulator has said that driving or walking on the notoriously dangerous streets of New Delhi is more of a risk than the country's 20 nuclear reactors. Srikumar Banerjee, chairman of India's Atomic Energy Commission, sought to play down fears about atomic power caused by Japan's troubles during an interview with NDTV television late on Monday. "I can only say that yo ... read more |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook
