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Nuclear

Uranium Energy Receives Approval For More American Production

October 18, 2024
x min read
Uranium Energy America

The need for North American based uranium supply is becoming more and more important. Which is exactly why Uranium Energy is scaling up their domestic operations.

What’s happening:

  • Uranium Energy (NYSE: UEC) has received approval from the state of Wyoming to increase their uranium production to 4M pounds of uranium annually at their Irigaray Processing Plant

By the numbers:

  • Uranium Energy previously had approval for their Wyoming uranium facility to produce 2.5 million pounds of uranium annually
  • Uranium Energy recently announced the purchase of the Sweetwater Plant from Rio Tinto (NYSE: RIO) which is also located in Wyoming and will bring their total combined annual uranium production to approximately 12M pounds annually upon closing

Why it matters:

Going deeper:

  • Aside from their Wyoming and Texas based production facilities, Uranium Energy is also uniquely positioned for the potential boom in demand for uranium as they own a significant amount of resource stage uranium projects across North America and a major equity stake in Uranium Royalty (NASDAQ: UROY) which is one of the first ever royalty companies focused exclusively on uranium to be listed on a major stock exchange in the United States

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