Uranium Energy Corp (UEC) announced on December 6, 2024, the completion of its previously announced acquisition of Rio Tinto America Inc.'s Wyoming assets. The transaction included the wholly-owned and fully-licensed Sweetwater Plant and a portfolio of uranium mining properties, such as the Red Desert Project and Green Mountain Project, which contain approximately 175 million pounds of historic resources.
The purchase price for the acquisition was approximately $175.4 million in cash, funded with UEC's available liquidity. This acquisition significantly enhances and accelerates UEC's production capabilities in Wyoming's Great Divide Basin.
The Sweetwater Plant is a 3,000-ton-per-day conventional processing mill with a licensed capacity of 4.1 million pounds of U3O8 annually. It can also be adapted to recover uranium from loaded resins produced by In-Situ Recovery (ISR) operations, providing UEC with the flexibility to support both ISR and conventional mining methods. With this addition, UEC now holds the largest licensed production capacity in the U.S.
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