Uranium Energy Corp. (AMEX:UEC) shares are trading higher on Monday. The company disclosed a deal to fully acquire Rio Tinto Plc's (NYSE:RIO) Wyoming assets for a purchase price of $175 million.

As per the deal, the buyout includes the fully licensed Sweetwater Plant and a portfolio of uranium mining projects with around 175 million pounds of historic resources.

The Sweetwater Plant, with a 3,000-ton-per-day capacity and licensed for 4.1 million pounds annually, can be adapted for both ISR and conventional mining, offering UEC production flexibility.

UEC's available liquidity will cover the purchase price. UEC controls 12 uranium projects in Wyoming's Great Divide Basin.

The acquisition provides a valuable asset base, saving time and costs compared to building a new facility or gathering geological data.

This transaction provides a rare opportunity to acquire licensed uranium facilities from a global leader, accelerating UEC's production in the Great Divide Basin.

The buyout adds 175 million pounds of uranium resources, valued below UEC's current trading levels. Half are suited for ISR mining, prioritized for near-term production, while conventional resources offer potential for future growth.

Amir Adnani, President and CEO, said, "These assets will unlock tremendous value by establishing our third hub-and-spoke production platform and cement UEC as the leading uranium developer in Wyoming and the U.S."

"We're witnessing unprecedented global growth in nuclear energy and demand for uranium as demonstrated by the recently proposed Three Mile Island restart in support of Microsoft's AI growth."

"The Russian uranium ban and recent comments by Russian government officials regarding restricting future uranium exports to the west underscore the critical importance of maintaining reliable domestic supply chains to power our growing requirements for clean baseload energy."

Investors can gain exposure to the stock via Sprott Junior Uranium Miners ETF (NASDAQ:URNJ).