Rio’s Faith in Uranium Drives Bid
Investing News Network - November 18th, 2011
SMH reported Rio Tinto (NYSE:RIO) is banking on a significant increase in uranium prices.
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.