Uranium oxide producer Uranium Resources (TSE) reported meeting with representatives of Rio Algom (TSE) and its affiliates to explore the feasibility of Rio making a proposal to acquire Uranium Resources.
No agreement has been reached. Dallas-based Uranium Resources produces uranium in Texas using low-cost in situ solution mining techniques. The company has substantial reserves of the mineral in New Mexico.
Rio is a minority shareholder of Uranium Resources and owns warrants to acquire additional shares of the company.
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