Colorado-based uranium miner Ur-Energy said it will build out its Shirley Basin uranium mine in Wyoming, making it the latest company to move projects forward as the price of the nuclear fuel increases and governments turn to reactors for clean energy and energy security.
The development will nearly double the company’s permitted mine production capacity to 2.2 million pounds of uranium ore concentrate, also known as yellowcake, uranium oxide or U3O8.
“This decision was based on our growing uranium sales contract book, a strong uranium market price and an expectation of growing demand for uranium as nations increasingly move toward clean nuclear power,” the company said.
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