The US-based pure uranium player's offer for Canada’s UEX Corporation has trumped Denison Mines’ competing bid.

Sernageomin said the decision to temporarily suspend Alcaparrosa’s operations was made in response to the safety concerns of the nearby Tierra Amarilla community.

The miner, which had $500 million in cash at the end of June, said the impact of additional delays will be known before the end of September.

Despite having the backing of the country’s top environmental evaluation authority, the permit for El Soldado Phase V project was declined.