OREANDA-NEWS. September 22, 2010. Federal Antimonopoly Service of the Russian Federation (FAS) granted the petition of Atomredmetzoloto OJSC (ARMZ) on acquisition of a 49%share in the equity capital of Karkhu Geology LLC

As a result, the share of ARMZ in Karkhu Geology in conjunction with the already existent share will be equal to 100%, the governmental agency declares in its message.

ARMZ and Cameco, Canadian corporation, have signed an agreement on cooperation in the field of geologic exploration and uranium mining, whereby the parties have established joint ventures — Northern Basins Uranium in Canada and Karkhu Geology LLC in Russia. The joint ventures were set up in order to perform geologic exploration on mutually agreed promising areas in Russia (Salminskaya and Shotkusskaya areas) and Canada (Turkavik and Stewardson Lake).