Energy Fuels and Titan join forces

07 December 2011

Two Canadian companies have finalized an agreement to combine their businesses, bringing together their uranium holdings in the western USA. The agreement implements the acquisition of Titan Uranium by Energy Fuels, initially announced in October. Uranium and vanadium company Energy Fuels has uranium interests in Colorado, Utah and Arizona and is in the process of developing the first conventional uranium and vanadium mill to be built in the USA in three decades at Piñon Ridge, Colorado. Titan brings to the deal some 31 million pounds U3O8 (nearly 11,700 tU) of uranium resources at Sheep Mountain in Wyoming, where it has completed a preliminary feasibility study with a view to open pit and underground mining. It also has interests and options in exploration properties in Canada and Utah. The transaction is expected to close during February 2012, and according to Energy Fuels president and CEO Steve Antony will put the company "among the largest holders of potentially recoverable uranium resource in North America."