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Uranium Energy Completes Restart Program at the Christensen Ranch ISR Project in Wyoming
CORPUS CHRISTI, Texas, July 12, 2023 /CNW/ - Uranium Energy Corp (NYSE American: UEC) ("UEC" or the "Company") is pleased to announce the Company's plan to acce
About this update from Uranium Energy Corp.
[{"type":"text","content":" CORPUS CHRISTI, Texas, July 12, 2023 /CNW/ - Uranium Energy Corp (NYSE American: UEC) (\"UEC\" or the \"Company\") is pleased to announce the Company's plan to accelerate the steps required for a resumption of operations has been completed, enabling a faster restart at the Christensen Ranch in-situ recovery (\"ISR\") Project in Wyoming. Amir Adnani, President and CEO stated: \"With demand increasing for uranium supply from stable geopolitical jurisdictions and U.S. national security objectives, we foresee an increasingly urgent need for domestic uranium supply. The fundamental drivers of supply and demand, including pending legislation to ban Russian uranium imports to the United States, are translating into rising uranium prices that have accelerated UEC's production readiness program. In that regard, we have been working towards restarting production to fulfill the need for domestic uranium and are pleased to provide an update on activities related to resuming operations at the Company's Christensen Ranch ISR uranium operations in Johnson County, Wyoming.\" Background: UEC acquired Uranium One Americas, Inc. (\"U1A\") from Russia's State Atomic Energy Corporation, Rosatom, in December 2021. The repatriation of the assets to U.S. ownership has been a transformative acquisition for UEC, positioning the Company as the largest, fully permitted, low-cost ISR project resource base of any U.S. based producer. The U1A U.S. portfolio was assembled starting in 2007 with the acquisition of Energy Metals Corp. and subsequently Cogema Resources Inc. The portfolio is anchored by the Irigaray Central Processing Plant (\"CPP\") and includes over 20 uranium projects, 100,000 acres of land and 4 fully permitted ISR projects. These assets include Christensen Ranch ISR Operations that, combined with early Irigaray production, produced over six million lbs. of uranium before being placed on standby in 2018 in care and maintenance. During this period, key production infrastructure, including its wellfields and the satellite ion exchange plant, have been maintained, and now upgraded and refurbished to facilitate a fast restart. Uranium recovered from Christensen Ranch will be processed at UEC's Irigaray CPP. The Irigaray CPP is the centerpiece of the Company's Wyoming ISR Hub and Spoke operations. The Irigaray CPP was ...