Uranium One completes Energy Metals buy

13 August 2007

Uranium One of Canada announced on 10 August that it has completed its acquisition of Energy Metals Corp (EMC) of the USA for some C$1.6 billion ($1.5 billion). Energy Metals has extensive advanced property holdings in Wyoming, Texas and New Mexico that are amenable to in-situ leach (ISL) mining methods. The company is currently development-drilling the La Palangana uranium deposit and upgrading the Hobson Uranium Processing Plant in Texas for an anticipated 2008 production date. Energy Metals is also actively advancing other significant uranium properties in Colorado, Utah, Nevada, Oregon and Arizona. Uranium One has projected annual production from EMC's asset base in the USA of 3630 to 4540 tonnes U3O8 (3080 to 3845 tU) by 2013 from six production centres. Uranium One owns the Dominion uranium operation in South Africa, as well as the Honeymoon project in Australia. The company recently completed its purchase of UrAsia Energy, which has uranium production assets in Kazakhstan. It has also acquired the Shootaring Canyon uranium mill in Utah, as well as several uranium exploration properties in four neighbouring states, from US Energy.

Further information

Energy Metals
Uranium One

WNN: Uranium One to buy Energy Metals
WNN: Uranium One completes purchase of US Energy assets
WNN: Uranium One completes on UrAsia