Uranium Energy Corp. expands production with acquisition of Rio Tinto's Wyoming assets for $175 million, adding 175 million pounds of uranium resources and a licensed plant with 3,000-ton-per-day capacity.

Uranium energy (NYSE American: UEC) , a U.S.-based uranium mining and exploration company, has entered into an agreement with Rio Tinto America Inc. The agreement outlines plans for UEC to acquire 100% of Rio Tinto's Wyoming assets,

Uranium Energy on Monday said it agreed to the $175 million acquisition of Rio Tinto's assets in Wyoming, U.S., which include its fully-licensed Sweetwater Plant and a portfolio of uranium mining projects.