The company was established as Southern Cross Resources Inc. on January 2, 1997, in Toronto, Canada. It was listed on the
Toronto Stock Exchange on August 25, 1997. In 2005, Southern Cross Resources Inc. reverse merged with
South African Aflease Gold and Uranium Resources Ltd. under the name SXR Uranium One Inc. After merger, the company received secondary listing on the
Johannesburg Stock Exchange. Aflease Gold and Uranium Resources Ltd. became a subsidiary of SXR Uranium One and was renamed Uranium One Africa Ltd. The main uranium asset of Aflease was the
Dominion mine. In 2007, Uranium One Inc. acquired UrAsia Energy Ltd. And a 70% stake in the Akdala and South Inkai uranium mines, as well as a 30% stake in the Kyzylkum venture in Kazakhstan. In June 2009, JSC Atomredmetzoloto (ARMZ), a subsidiary of Rosatom, acquired a 16.6 percent stake in Uranium One in exchange for a 50 percent stake in its joint venture with Kazatomprom Karatau. In the same year, Uranium One bought the Shootaring Uranium Mill from the
United States Enrichment Corporation. It was sold to Anfield Energy in 2015. Also in 2007, Uranium One acquired Energy Metals Corporation which owned the
Hobson uranium processing plant in Texas, and uranium exploration properties located in
Wyoming and
Texas. The Hobson uranium processing plant and assets in Texas were sold to Uranium Energy Corporation in 2009. In 2009, the
Rosatom subsidiary
ARMZ acquired 16.6% of shares in Uranium One in exchange for a 50% interest in the
Karatau uranium mining project, a joint venture with
Kazatomprom. In 2010, Uranium One acquired 50% and 49% respective interests in southern Kazakhstan-based
Akbastau and
Zarechnoye uranium mines from ARMZ. In exchange, ARMZ increased its stake in Uranium One to 51%. In 2010, Uranium One acquired Irigaray uranium processing plant, the Christensen Ranch satellite uranium processing facility and associated uranium exploration properties in the
Powder River Basin in Wyoming from the joint venture of
AREVA and
Électricité de France. In December 2010, ARMZ increased its stake in Uranium One to 51.4%. At the time of the 2010 sale, the
U.S. Nuclear Regulatory Commission estimated that Uranium One held the rights to approximately 20% of the licensed
uranium ore production capacity in the United States which in its entirety amounted to 0.2% of the world's uranium production. By 2017 additional mining licenses had been issued to other operators, shrinking Uranium One's share of U.S. production capacity to approximately 10%. From 2012 to 2014, an unspecified amount of Uranium was reportedly exported to Canada via a Kentucky-based trucking firm with an existing export license; most of the processed uranium was returned to the U.S., with approximately 25% going to Western Europe and Japan. In 2015, Uranium One relocated certain head office functions such as finance, internal audit and some technical services to Moscow. In 2017, Uranium One established a trading company Uranium One Trading in
Zug,
Switzerland. However, in January 2018, trading functions of the company were transferred to
Techsnabexport, an export arm of Rosatom. In 2010–2013, Uranium One acquired Mantra Resources, the developer of
Mkuju River mine in
Tanzania. The
Mkuju River project was suspended in 2017 due to the low uranium price. In 2015, Uranium One Australia, the owner of the Uranium One's Australian operations, including the
Honeymoon Uranium Project, was sold to Boss Resources. In August 2018, Uranium One closed its
Willow Creek mine in Wyoming. In 2017, Uranium One Trading A. started its trading company. G in Zug, Switzerland. The company aims to increase its share in the international market by carrying out spot and medium-term trading in natural uranium. At the end of 2019, Uranium One's mineral resource base is estimated at 512.7 thousand tons. Uranium production for the year amounted to 4,6 tonnes. In 2019, Uranium One's operations were transferred to TENEX (a global brand of TENEX). In the reporting year, the mineral resource base of Uranium One's enterprises according to international reporting standards was 192 thousand tons (197.1 thousand tons in 2018). In 2020, Uranium One made its first shipment of wood pellets to a customer in Italy. More than 3 thousand tons of products were delivered by sea. ==Operations==