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Released August 25, 2023 | SUGAR LAND
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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.
Click on the image at right for a graph detailing UEC's active and planned projects globally, by project type.
UEC acquired Rio Tinto's 60% equity stake in the Henday Lake joint venture, which is located just north of the Roughrider Uranium Mine near Wollaston Lake, Saskatchewan, which UEC acquired from Rio Tinto in October 2022. UEC hopes to develop Roughrider as an in-situ leach or underground mining operation, and it believes its interest in Henday Lake will offer infrastructure support to Roughrider and its other projects in the Eastern Athabasca Hub.
Like the other two mining projects related to UEC's recent acquisitions, Roughrider is an exploration-stage project that, if approved, likely would not begin construction for more than a decade. Industrial Info is keeping watch on developments related to these long-term efforts as part of its Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases. Subscribers can learn more about Roughrider in a detailed project report and plant profile.
UEC also acquired Rio Tinto's 50% equity stake in the Carswell joint venture, which is located near the Shea Creek deposits, which UEC is exploring in a joint venture with Orano Group (Paris, France). According to UEC, four deposits comprise one of the largest undeveloped uranium resources in the Athabasca Basin and are "open for significant expansion." UEC and Orano are weighing the development of the proposed Shea Creek Uranium Mine near La Loche, Saskatchewan, where the companies have 49.075% and 50.925% stakes in the Shea Creek deposits, respectively. Subscribers can learn more in a detailed project report and plant profile.
"UEC believes that the potential to expand uranium resources within the footprint of the existing Shea Creek is very high as only a couple of these favorable intersecting fault junctions have been drill-tested into the basement to date along the 3-kilometer trend of the known deposits," the company said in a press release.
In addition to these partial equity stakes, UEC picked up Rio Tinto's 100% stake in the Milliken project, which now represents the western extension of UEC's Hidden Bay Uranium Mine near Wollaston Lake. UEC says its assets in this area include multiple uranium showings over a 19-kilometer plot. UEC hopes to develop these deposits into a conventional open pit or underground mining operation. Subscribers can learn more in a detailed project report and plant profile.
In a press release, UEC said its Roughrider, Shea Creek, Milliken and other acquisitions over the past year have increased its total existing resources by 109.9 million pounds of indicated resources and 71 million pounds of inferred resources. UEC says its Athabasca land portfolio now stands at more than 1.13 million acres.
Rio Tinto Bolsters Smelting Operations
In June, Rio Tinto announced it would invest C$1.4 billion (US$1.1 billion) to expand its aluminum-smelting complex in Jonquiere, Quebec, including up to C$150 million (US$113 million) in financial support from Quebec. Rio Tinto aims to add 96 new AP60 pots, which can better accommodate high-amperage smelting technology, for a total of 134. The company says this will increase primary aluminum production from 60,000 to 220,000 metric tonnes per year, enough for 400,000 electric cars. Subscribers can learn more in a detailed project report and plant profile.
"This expansion, which will coincide with the gradual closure of pot rooms at the Arvida smelter on the same site, will enable Rio Tinto to continue meeting customers' demand for low-carbon, high-quality aluminum for use in transportation, construction, electrical and consumer goods," Rio Tinto said in a press release.
Rio Tinto already is in the process of adding a recycling center and repairing two anode baking furnaces at Jonquiere, which it says will improve furnace operations and expand its production of low-carbon aluminum. Subscribers can read detailed reports on the recycling center and baking furnaces.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active and planned projects globally from UEC, and click here for a full list of active and planned Rio Tinto projects in Canada.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing UEC's active and planned projects globally, by project type.UEC acquired Rio Tinto's 60% equity stake in the Henday Lake joint venture, which is located just north of the Roughrider Uranium Mine near Wollaston Lake, Saskatchewan, which UEC acquired from Rio Tinto in October 2022. UEC hopes to develop Roughrider as an in-situ leach or underground mining operation, and it believes its interest in Henday Lake will offer infrastructure support to Roughrider and its other projects in the Eastern Athabasca Hub.
Like the other two mining projects related to UEC's recent acquisitions, Roughrider is an exploration-stage project that, if approved, likely would not begin construction for more than a decade. Industrial Info is keeping watch on developments related to these long-term efforts as part of its Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases. Subscribers can learn more about Roughrider in a detailed project report and plant profile.
UEC also acquired Rio Tinto's 50% equity stake in the Carswell joint venture, which is located near the Shea Creek deposits, which UEC is exploring in a joint venture with Orano Group (Paris, France). According to UEC, four deposits comprise one of the largest undeveloped uranium resources in the Athabasca Basin and are "open for significant expansion." UEC and Orano are weighing the development of the proposed Shea Creek Uranium Mine near La Loche, Saskatchewan, where the companies have 49.075% and 50.925% stakes in the Shea Creek deposits, respectively. Subscribers can learn more in a detailed project report and plant profile.
"UEC believes that the potential to expand uranium resources within the footprint of the existing Shea Creek is very high as only a couple of these favorable intersecting fault junctions have been drill-tested into the basement to date along the 3-kilometer trend of the known deposits," the company said in a press release.
In addition to these partial equity stakes, UEC picked up Rio Tinto's 100% stake in the Milliken project, which now represents the western extension of UEC's Hidden Bay Uranium Mine near Wollaston Lake. UEC says its assets in this area include multiple uranium showings over a 19-kilometer plot. UEC hopes to develop these deposits into a conventional open pit or underground mining operation. Subscribers can learn more in a detailed project report and plant profile.
In a press release, UEC said its Roughrider, Shea Creek, Milliken and other acquisitions over the past year have increased its total existing resources by 109.9 million pounds of indicated resources and 71 million pounds of inferred resources. UEC says its Athabasca land portfolio now stands at more than 1.13 million acres.
Rio Tinto Bolsters Smelting Operations
In June, Rio Tinto announced it would invest C$1.4 billion (US$1.1 billion) to expand its aluminum-smelting complex in Jonquiere, Quebec, including up to C$150 million (US$113 million) in financial support from Quebec. Rio Tinto aims to add 96 new AP60 pots, which can better accommodate high-amperage smelting technology, for a total of 134. The company says this will increase primary aluminum production from 60,000 to 220,000 metric tonnes per year, enough for 400,000 electric cars. Subscribers can learn more in a detailed project report and plant profile.
"This expansion, which will coincide with the gradual closure of pot rooms at the Arvida smelter on the same site, will enable Rio Tinto to continue meeting customers' demand for low-carbon, high-quality aluminum for use in transportation, construction, electrical and consumer goods," Rio Tinto said in a press release.
Rio Tinto already is in the process of adding a recycling center and repairing two anode baking furnaces at Jonquiere, which it says will improve furnace operations and expand its production of low-carbon aluminum. Subscribers can read detailed reports on the recycling center and baking furnaces.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active and planned projects globally from UEC, and click here for a full list of active and planned Rio Tinto projects in Canada.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
