Cameco Spends $152M On Uranium Project Majority Stake

Law360, New York (March 2, 2012, 12:42 PM EST) -- Cameco Corp. has bought out Areva Resource Canada from a proposed northern Saskatchewan project for CA$150 million (US$152.1 million), making it a majority owner of the venture, Canada's largest uranium miner announced Friday.

Taking over Areva's 27.94 percent share will give Cameco a 69.9 percent ownership of the Cree Lake Extension Joint Venture exploration project. But a third venture member, a subsidiary of Japan-Canada Uranium Co. Ltd., owns the remaining stake and has the right to refuse the transfer under an existing agreement, Cameco said....
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