Uranium Energy Corp. Benefits from Rio Tinto's Shift in Canada

August 25, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Rio Tinto plc (NYSE:RIO) (London, England) is shifting the focus of its Canadian operations to its established mining and smelting assets, following its sale of three exploration-stage projects in Saskatchewan's Athabasca Basin to Uranium Energy Corporation (UEC) (Corpus Christi, Texas). UEC is using its newly acquired assets to expand its existing operations in the basin.

Industrial Info is tracking US$1.2 billion worth of active and planned projects globally from UEC, and more than US$2.8 billion worth of Rio Tinto projects in Canada. In June, Rio Tinto announced it would invest C$1.4 billion (US$1.1 billion) to expand an aluminum-smelting complex in Quebec.

Other companies featured: Orano Group