Rio’s Faith in Uranium Drives Bid

SMH reported Rio Tinto (NYSE:RIO) is banking on a significant increase in uranium prices.

As quoted in the market news:

The mining giant escalated the bidding war for small Canadian company Hathor Exploration.

Rio improved its offer for the uranium explorer to $C4.70 ($A4.55) per share yesterday, and analysts predict rival Cameco may counter again before the end of the month.

Click here to read the full SMH report.