Rio Uranium Mine Attracts Bidding War

A bidding war is underway for mining giant Rio Tinto's Kintyre uranium deposit in Western Australia, according to Australia’s Herald Sun.

Local firms and several Canadian buyers are already in talks with the Rio about acquiring the deposit according to the paper.

Australia’s BusinessDaily has also been told by two sources close to the talks that uranium giants Mega Uranium and Cameco have shown strong interest in acquiring the Kintyre deposit.

By staff writer