Uranium Energy up after $175 mln deal for Rio Tinto's Wyoming uranium assets

Uranium Energy

23/09/2024 15:16

(Updates)
    ** Shares of miner Uranium Energy  UEC.A  rise 5.8% to $5.86
    ** Co enters into deal with Rio Tinto America  RIO.L  to
acquire its Wyoming assets - Sweetwater Plant and a portfolio of
uranium mining projects - for $175 million
    ** UEC will acquire 100% of the outstanding shares of two
subsidiaries of Rio Tinto that hold its Wyoming uranium assets
    ** Transaction expected to close in the Q4 2024
    ** Additionally, overall uranium sector trading higher, with
companies up between 3% to 6%
    ** Including today's gains, UEC has fallen 8.4% YTD

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com;))