The uranium extracted will be processed at the fully operational Irigaray Central Processing Plant (CPP). Credit: RHJPhtotos via Shutterstock.com.

Uranium Energy Corp (UEC) has announced the imminent restart of uranium production at its Christensen Ranch in-situ recovery (ISR) operations in Wyoming, US.

The company has secured its board’s clearance for the restart of its fully permitted operations.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

First output from the site is due for August this year, with funding secured through the company’s existing cash reserves.

The uranium extracted will be processed at the fully operational Irigaray CPP, which has a licensed capacity of 2.5 million pounds of U3O8 (triuranium octoxide) annually.

UEC noted that the Irigaray CPP serves as a central hub for four fully permitted ISR projects in Wyoming’s Powder River Basin, including Christensen Ranch.

The company maintained a strategy of being 100% unhedged, which allows UEC to sell the produced uranium at current spot market prices.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Presently, the company is focused on the recruitment and training of additional operations personnel.

The new hires are expected to come from local communities including Buffalo, Gillette, Casper, Kaycee and Wright, which will likely benefit from the job creation.

UEC president and CEO Amir Adnani said: “This is the moment we have been working towards for over a decade, having acquired and further developed leading US 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. With this exciting backdrop, we are pleased to announce our production restart in Wyoming.

“In addition to restarting production at the Company’s Wyoming operations, initiatives to resume production are also being advanced at our South Texas Hub & Spoke platform. We will provide more updates on the timing for this restart as milestones are achieved in that plan.”