Uranium Royalty to Buy Sweetwater in $1.1 Billion Nuclear Fuel Deal

Uranium Royalty Corp. agreed to buy Sweetwater Royalties for about $1.1 billion in a deal that would create a new US-listed company to capitalize on growing demand for nuclear fuel.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Uranium Royalty Corp. agreed to buy Sweetwater Royalties for about $1.1 billion in a deal that would create a new US-listed company to capitalize on growing demand for nuclear fuel.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.The tie-up will give New York-based investment firm Orion Resource Partners LP, Sweetwater’s top shareholder, a 43% stake in the combined company, while the Ontario Teachers’ Pension Plan will hold about 16%, according to a statement Thursday. The new entity is expected to list on Nasdaq as Uranium Royalty Corp.Uranium Royalty shares rose as much as 7.1% in New York before erasing gains to trade below $4.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Royalty firms, which provide upfront investment to companies in exchange for a percentage of revenue, are common in the mining industry but less prevalent in the nuclear fuel sector. The Sweetwater deal comes as governments and investors pour money into critical minerals like uranium that are seen as essential to electrification, data centers and energy security. Uranium markets in particular have tightened in recent years, with supply lagging demand as countries extend the life of nuclear reactors and plan new ones to meet climate goals and reduce dependence on foreign oil. The Trump administration has offered funding to nuclear fuel makers as part of an effort to restart domestic production and wean the US off of enriched Russian uranium. Sweetwater owns roughly 4.5 million mineral acres across Wyoming, Utah and Colorado, including a major position in trona, a key input for soda ash used in glass, chemicals and batteries. Uranium Royalty has a US portfolio of uranium royalties and streams, or financing agreements that give investors the right to buy a percentage of future production at a discount.Including debt, the acquisition implies an enterprise value of $1.9 billion for Sweetwater. The deal is subject to shareholder and regulatory approvals and is expected to close in the third quarter.Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.