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MEI Online: Commodities: Metallic Ores: Uranium: Latest News: February 27th 2007


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:: Uranium 1 Commissions Dominion Plant

South Africa's sxr Uranium One has entered into a definitive agreement with US Energy Corp, and its affiliate, Crested Corp, to acquire the Shootaring Canyon uranium mill and associated property interests, in Utah, it said on Friday.

"The acquisition of the Shootaring canyon mill and related uranium property interests will serve as the foundation for our growth in the US. We look forward to closing this transaction and to expanding our US business in line with our growth strategy," he said in a statement to the JSE.

Closing of the purchase agreement was, however, subject to the receipt of all required governmental and regulatory approvals, including the approval by the Utah Division of Radiation Control of the transfer of the mill's radioactive materials licence and final acceptance by the Toronto Stock Exchange for the listing of the Uranium One common shares to be issued on closing.




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