Uranium sale expected to boost Wyoming production

DOUGLAS — In a move that may mean a huge upswing in uranium mining in Converse County and Wyoming, Uranium Energy Corporation (UEC) has entered into an agreement with Russia’s Uranium One Investments Inc., a subsidiary of Uranium One, to acquire all issued and outstanding shares of Uranium One Americas, Inc. (U1A) for a total purchase price of $112 million in cash and the replacement of $19 million in reclamation bonding.

Uranium One is the world’s fourth largest uranium producer and part of Russia’s State Atomic Energy Corporation, Rosatom.

The deal will add approximately 100,000 acres in Wyoming’s prolific uranium producing Powder River and Great Divide Basins consisting of dozens of under-explored, mineralized brownfield projects, backed by detailed databases of historic uranium exploration and development programs, thus greatly enhancing the potential for resource expansion, according to a press release from UEC Nov. 9.

The company said U1A’s assets are primarily situated in […]

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