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 […]

About the author: StockMan
Tell us something about yourself.
Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet