Uranium One enters into agreement with Uranium Energy Corp. for sale of American subsidiary
Uranium One has entered into an agreement with the American company Uranium Energy Corp. for the sale of all of the shares of its subsidiary, Uranium One Americas, Inc. (“Uranium One Americas”). The assets of Uranium One Americas are situated in Wyoming, and include seven uranium projects in the Powder River Basin of Wyoming and five in the Great Divide Basin. The total purchase price is comprised of $112 million in cash and the replacement (with certain corresponding payments to Uranium One) of $19 million in reclamation bonding.
The sale is carried out within the framework of the strategy of Uranium One to optimize the portfolio of uranium mining assets, aimed at increasing economic efficiency. Uranium One is an international group of companies, part of the management circuit of the TENEX group of companies of the Rosatom State Corporation. The company is one of the world's largest uranium mining holdings with a diversified portfolio of assets, which develops projects in Kazakhstan, Tanzania and Namibia.
The buyer of Uranium One Americas is Uranium Energy Corp., an American uranium mining company with assets in Texas, Arizona, Colorado, New Mexico and Paraguay. The closing of the sale is subject to certain regulatory approvals.