PERTH (miningweekly.com) – ASX-listed Okapi Resources will take a 19.9% stake in technology company Ubaryon, after that company’s shareholders approved a A$3.1-million investment.

Ubaryon is developing and commercialising a novel chemical uranium enrichment technology and has recently established a laboratory at Australia’s Nuclear Science and Technology Organisation site, in Sydney, to accelerate the development of this technology.

“Okapi is very excited to become a cornerstone shareholder in Ubaryon and sees significant value in the technology’s ability to potentially transform the existing uranium enrichment industry which is a $6-billion market fundamental to the nuclear fuel cycle and currently dominated by Russia,” said Okapi MD Andrew Ferrier.

“Okapi shareholders are uniquely placed in having significant exposure to the key components in both mining and enrichment of the nuclear fuel cycle. Uranium development and enrichment are two of the larger value drivers in the nuclear energy production process.”

The transaction is expected to close at the end of March.