Quebec's $1 billion Capital Mines Hydrocarbures fund is close to buying equity stakes in mining projects outside iron ore worth as much as $200m a shot.
According to the agreement, TRER will supply up to 300,000 pounds of natural uranium concentrates (U308) per year based upon a pricing formula indexed to U308 spot prices at the times of delivery.
The main point of contention is the fact that mining companies believe that once they reached a 26% black ownership, they effectively complied, no matter where the percentage is at now.