Uranium Energy To Buy Rio Tinto's Wyoming Sweetwater, Uranium Assets For $175 Mln

(RTTNews) - Uranium Energy Corp. (UEC) announced on Monday that it has inked a deal with Rio Tinto America Inc. to acquire Rio Tinto's Wyoming assets for $175 million, to be funded by UEC's available liquidity.

The transaction, to be closed in the fourth-quarter of 2024 calendar year, includes the wholly-owned and fully-licensed Sweetwater Plant and a portfolio of uranium mining projects with around 175 million pounds of historic resources.

Amir Adnani, CEO of Uranium Energy, said: "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."

The Sweetwater plant is a 3,000 ton per day conventional processing mill with a licensed capacity of 4.1 million pounds of U3O8.