- Uranium Energy Corp. (NYSEAM:UEC) has received approval to increase the production capacity at its Irigaray Central Processing Plant
- The uranium miner got the green light from the Wyoming Department of Environmental Quality, Uranium Recovery Program to boost capacity to 4 million pounds of U3O8 annually
- The Irigaray Plant is the cornerstone of the company’s “hub-and-spoke” production strategy in Wyoming’s Powder River Basin
- Uranium Energy stock opened trading at US$8.12 per share
Uranium Energy Corp. (NYSEAM:UEC) has received approval to increase the production capacity at its Irigaray Central Processing Plant.
The Casper, Wyoming-based uranium miner got the green light from the state’s Department of Environmental Quality, Uranium Recovery Program to boost capacity to 4 million pounds of U3O8 annually.
“The extraordinary growth in nuclear power in the U.S. is creating a new demand paradigm for uranium supply from stable domestic sources,” The company’s president and CEO, Amir Adnani, commented in a news release. “Big tech companies, like Amazon, Google, Microsoft and Oracle, are making significant financial commitments for nuclear energy to provide the electricity needed to power data centres. This approach to invest directly into nuclear generation infrastructure reflects the realization that nuclear energy provides safe, highly reliable, economic and clean energy.”
The Irigaray Plant is the cornerstone of the company’s “hub-and-spoke” production strategy in Wyoming’s Powder River Basin. This facility supports four of its uranium in-situ recovery (ISR) satellite projects in the region, including the active Christensen Ranch project. Engineering efforts are already in progress, and key equipment, such as a filter press, has been acquired to boost the plant’s output.
The team has secured a significant agreement with Rio Tinto, establishing a third hub-and-spoke production platform in Wyoming’s Great Divide Basin. This acquisition includes the Sweetwater Plant, which has a licensed capacity of 4.1 million pounds of U3O8 per year, and a portfolio of uranium projects that will add 175 million pounds of historic resources to the company’s existing resource base.
Uranium Energy Corp. stands as the leading and rapidly expanding uranium supplier in the United States, essential for generating safe, clean, and reliable nuclear energy. The company is pioneering the next wave of cost-effective and eco-friendly ISR uranium mining projects across the United States, alongside high-grade conventional projects in Canada. The company boasts two production-ready ISR hub-and-spoke platforms in South Texas and Wyoming.
Uranium Energy stock (NYSEAM:UEC) opened trading at US$8.12 per share and has risen 30.78 per cent since the year began.
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