Uranium Energy (NYSE American: UEC) today announced that its board of directors has approved restarting uranium production at its fully permitted and past producing Christensen Ranch In-Situ Recovery (“ISR”) operations in Wyoming. According to the announcement, the recovered uranium will be processed at the fully operational Irigaray Central Processing Plant (“CPP”) with a current licensed capacity of 2.5 million pounds of U3O8 per year. “This is the moment we have been working towards for over a decade, having acquired and further developed leading U.S. and Canadian assets with an exceptional, deeply experienced operations team. Uranium market fundamentals are the best the industry has witnessed, and various supply shocks have accelerated the bull market with recent prices eclipsing the $100 per pound level,” said Amir Adnani, president and CEO of UEC. “In addition to restarting production at the company’s Wyoming operations, initiatives to resume production are also being advanced at our South Texas Hub and Spoke platform. We will provide more updates on the timing for this restart as milestones are achieved in that plan.”
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About Uranium Energy Corp.
Uranium Energy is the fastest growing supplier of the fuel for the green energy transition to a low carbon future. UEC is the largest, diversified North American focused uranium company, advancing the next generation of low-cost, environmentally friendly ISR mining uranium projects in the United States and high-grade conventional projects in Canada. The company has two production-ready ISR hub-and-spoke platforms in South Texas and Wyoming. These platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all their major permits in place. Additionally, the company has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of U.S. warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a Western Hemisphere pipeline of resource stage uranium projects. The company’s operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining.
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