OREANDA-NEWS. August 31, 2010.  General Director of Rosatom noted that acquisition of Uranium One was not an ultimate goal of their uranium strategy development. Kiriyenko explained that they wanted to provide the growth platform as a base for further development of their progress in integration, cooperation and deals of amalgamations and mergers at other markets. The head of Rosatom gave an interview being on an official visit in Canada in order to support the deal of increasing the share of Atomredmetzoloto (ARMZ), a uranium holding, in Uranium One from 17% up to 51%.

Today Atomredmetzoloto which has acquired Uranium One is one of the five world’s largest uranium mining companies. At present it satisfies about 10% of the world’s demands in natural uranium. The portfolio of Atomredmetzoloto includes 14 mining projects all over the world. The long-term strategy of Atomredmetzoloto is aimed at development of the global raw material base and acquiring a position of three largest mining companies by 2020.