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Company Says Uranium Mill Could Mean Up To 3,000 JobsAssociated Press
October 12, 2007
GRANTS, N.M. - A Texas company today announced plans to open a new uranium mill in a move that could bring up to 3,000 jobs and reinvigorate the once vibrant mining industry in northwest New Mexico.
Uranium Resources agreed to buy a uranium mining company and a mill license from BHP Billiton for about $126.5 million in cash.
The company says it will pay $110 million for Rio Algom Mining, whose assets include New Mexico properties with 20 million pounds of U-308 uranium ore.
The company also will pay $16.5 million for a Nuclear Regulatory Commission license to build and operate a conventional uranium mill at the Ambrosia Lake site, 20 miles north of Grants.
The deal is expected to close before June.
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