UEC to buy Uranium One’s US uranium assets

Texas-based Uranium Energy Corp (UEC) has agreed to buy Uranium One Americas Inc (U1A) from Rosatom’s Uranium One Group. The acquisition will create "hub-and-spoke" operations in Wyoming for UEC, centred on U1A’s Irigaray plant, and will position it as the largest American uranium mining company, UEC said. The acquisition includes seven projects in Wyoming’s Powder River Basin, three of which are fully permitted, and five in the Great Divide Basin (Image: UEC) The total purchase price is made up of USD112 million in cash and the replacement of USD19 million in reclamation bonding, and is fully funded with UEC’s existing balance sheet.

UEC President and CEO Amir Adnani said the "highly accretive" transaction for UEC represents "great value" to shareholders, doubling its production capacity three areas: the total number of permitted US in-situ leach (ISL) projects; resources; and processing infrastructure. "The opportunity to acquire an advanced asset base of this […]

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