Uranium Company Buys Town in Southern Utah

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TICABOO, Utah (AP) -- A Canadian mining company that bought a mothballed uranium mill in Ticaboo has now bought the entire private community.

Toronto's SXR Uranium One Inc. bought the south-central Utah town for its housing -- the property includes mobile home and RV parks, the infrastructure for a housing subdivision, a restaurant and general-goods store. The deal even came with a boat.

Wyoming-based U.S. Energy Corp. had owned the mill and town and sat on the assets for more than two decades, waiting for the uranium market to rebound. It operated the mill for only for two and a half months in 1982, when the market crashed.

U.S. Energy Corp. sold the mill for $6.6 million cash and stock in Uranium One and the promise of royalties. It sold the town for $2.7 million.


Information from: The Salt Lake Tribune

(Copyright 2007 by The Associated Press. All Rights Reserved.)

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