Uranium Energy (NYSE American: UEC), a U.S.-based uranium mining and exploration company, has entered into an agreement with Rio Tinto America Inc. The agreement outlines plans for UEC to acquire 100% of Rio Tinto’s Wyoming assets, including its wholly owned and fully licensed Sweetwater Plant as well as its portfolio of uranium mining projects with approximately 175 million pounds of historic resources; the transaction will total an estimated $175 million and will be funded with available liquidity.
This agreement creates UEC’s third U.S. hub-and-spoke production platform and will enable the company to unlock the development potential of its extensive portfolio in the Great Divide Basin. The acquisition will include a highly invested asset base with operating synergies that represents sizeable and accretive resource growth along with an extensive land package, geological data and exploration.
”Expanding our production capabilities with the acquisition of highly sought after and fully licensed uranium assets in the U.S. is an important and timely milestone, especially in Wyoming , where we have recently restarted ISR production,” said Uranium Energy president and CEO Amir Adnani in the press release. “With this transaction, we are building upon our transformative acquisition of Uranium One Americas in 2021, which added a large portfolio of holdings in the Great Divide Basin of Wyoming. . . . We’re witnessing unprecedented global growth in nuclear energy and demand for uranium as demonstrated by the recently proposed Three Mile Island restart in support of Microsoft’s AI growth. . . . With our fourth acquisition since 2021, UEC is continuing to execute towards building the premier and fastest growing North American uranium company.”
To view the full press release, visit https://ibn.fm/RwPDS
About Uranium Energy Corp.
Uranium Energy Corp is the fastest-growing supplier of fuel for the green-energy transition to a low-carbon future. UEC is the largest diversified North American-focused uranium company, advancing the next generation of low-cost, environmentally friendly, in-situ recovery (“ISR”) mining uranium projects in the United States and high-grade conventional projects in Canada. The company has one producing ISR production hub and spoke platform in Wyoming and one ISR production-ready ISR hub and spoke platform located in south Texas. These two production platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all their major licenses and permits in place. In August 2024, production began at the Christensen Ranch project in Wyoming, sending uranium-loaded resin to its Wyoming hub. Additionally, UEC has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of North American-warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a Western Hemisphere pipeline of resource-stage uranium projects. The company’s operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining. For more information about the company, visit www.UraniumEnergy.com.
NOTE TO INVESTORS: The latest news and updates relating to UEC are available in the company’s newsroom at https://ibn.fm/UEC
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