Rio move on Hathor near complete
09 January 2012
Rio Tinto has taken up some 93.76% of the common shares of Canadian uranium exploration company Hathor and will now purchase all the remaining shares through a compulsory acquisition under Canadian law. London-based Rio Tinto's announcement marks the beginning of the end of an acquisition battle which saw Hathor shareholders reject an unsolicited bid from Canadian uranium mining company Cameco in favour of Rio Tinto's offer. The acquisition will add Hathor's Athabasca Basin exploration properties in northern Saskatchewan, including the Roughrider deposit with an estimated 17.2 million pounds U
3O
8 (6600 tU) in indicated resources and 40.7 million pounds U
3O
8 (15,650 tU) in inferred resources, to Rio's existing Canadian non-uranium mining and manufacturing interests.