Uranium Energy to Acquire Rio Tinto's Wyoming Assets
By Don Nico Forbes
Uranium Energy on Monday said it agreed to the $175 million acquisition of Rio Tinto's assets in Wyoming, U.S., which include its fully-licensed Sweetwater Plant and a portfolio of uranium mining projects.
The uranium production and exploration company said the assets will enhance its production capabilities and provide opportunity for synergy with its other projects in Wyoming's Great Divide Basin, adding roughly 175 million pounds of historic resources.
"These assets will unlock tremendous value by establishing our third hub-and-spoke production platform and cement [Uranium Energy] as the leading uranium developer in Wyoming and the U.S.," Chief Executive Amir Adnani said.
Write to Don Nico Forbes at don.forbes@wsj.com
(END) Dow Jones Newswires
September 23, 2024 06:43 ET (10:43 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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