Uranium Energy Corp (UEC) has completed the acquisition of Rio Tinto's Wyoming assets for $175.4 million in cash. The deal includes the fully-licensed Sweetwater Plant and uranium mining properties with approximately 175 million pounds of historic resources.The Sweetwater Plant, with a licensed capacity of 4.1 million pounds U3O8 annually, significantly enhances UEC's production capabilities in Wyoming's Great Divide Basin. This acquisition creates UEC's third U.S. hub-and-spoke production platform and increases its combined U.S. licensed production capacity to 12.1 million pounds of U3O8 per year.UEC's next steps include completing an S-K 1300 technical resource report, building a dedicated team for the Sweetwater platform, and refurbishing the plant for In-Situ Recovery processing. The company aims to play a critical role in supplying uranium for nuclear energy, particularly in light of increased interest from Big Tech companies and Russia's recent uranium export restrictions.

Uranium Energy Corp (UEC) has completed the acquisition of Rio Tinto's Wyoming assets for $175.4 million in cash. The deal includes the fully-licensed Sweetwater Plant and uranium mining properties with approximately 175 million pounds of historic resources.The Sweetwater Plant, with a licensed capacity of 4.1 million pounds U3O8 annually, significantly enhances UEC's production capabilities in Wyoming's Great Divide Basin. This acquisition creates UEC's third U.S. hub-and-spoke production platform and increases its combined U.S. licensed production capacity to 12.1 million pounds of U3O8 per year.UEC's next steps include completing an S-K 1300 technical resource report, building a dedicated team for the Sweetwater platform, and refurbishing the plant for In-Situ Recovery processing. The company aims to play a critical role in supplying uranium for nuclear energy, particularly in light of increased interest from Big Tech companies and Russia's recent uranium export restrictions.