Uranium Energy Corp has agreed to acquire Rio Tinto's Wyoming uranium assets for $175 million, including the fully-licensed Sweetwater Plant and uranium projects with approximately 175 million pounds of historic resources. The transaction will establish UEC's third U.S. hub-and-spoke production platform, with the Sweetwater Plant offering 4.1 million pounds annual licensed capacity.The acquisition includes over 53,000 acres of prospective land and extensive geological data from 13,000 drill holes. The assets comprise the Red Desert Project with 42 million pounds of historic resources and the Green Mountain Project with 133 million pounds. Approximately half of the resources are amenable to ISR mining methods, which will be prioritized for near-term production.The deal is expected to close in Q4 2024, strengthening UEC's position as a leading U.S. uranium developer amid growing demand for domestic supply due to Russian import bans and increasing nuclear energy needs for AI development. The company will replace $25 million in reclamation bonds upon completion.

Uranium Energy Corp has agreed to acquire Rio Tinto's Wyoming uranium assets for $175 million, including the fully-licensed Sweetwater Plant and uranium projects with approximately 175 million pounds of historic resources. The transaction will establish UEC's third U.S. hub-and-spoke production platform, with the Sweetwater Plant offering 4.1 million pounds annual licensed capacity.The acquisition includes over 53,000 acres of prospective land and extensive geological data from 13,000 drill holes. The assets comprise the Red Desert Project with 42 million pounds of historic resources and the Green Mountain Project with 133 million pounds. Approximately half of the resources are amenable to ISR mining methods, which will be prioritized for near-term production.The deal is expected to close in Q4 2024, strengthening UEC's position as a leading U.S. uranium developer amid growing demand for domestic supply due to Russian import bans and increasing nuclear energy needs for AI development. The company will replace $25 million in reclamation bonds upon completion.