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More US uranium production could be on the horizon
"For much of 2020 and 2021, the US Energy Information Administration (EIA) was unable to publish quarterly domestic uranium production figures as output failed to reach its reporting threshold. Figures have been published for the last two quarters, and according to the EIA's latest report, the fourth quarter of 2021 saw a total of 9,978 pounds U3O8 (3.8 tU) produced from three facilities: the Nichols Ranch in-situ leach (ISL) project and Ross central processing plant, both in Wyoming, and the Crowe Butte operation in Nebraska. This was 88% higher than the third quarter total of 5,297 pounds.
"'2022 begins with the highest uranium price in a decade and a positive global outlook for nuclear energy not seen in a generation,' Amir Adnani, CEO of Uranium Energy Corp (UEC) told shareholders this week.
"The Texas-based company's USD112 million acquisition of Uranium One Americas (U1A) from Rosatom's Uranium One Group, completed in December, means it now has two production-ready 'hub and spoke' in-situ leach platforms with processing facilities in Wyoming and South Texas, as well as four fully installed wellfields, six additional permitted or development-stage satellite ISL projects, and a portfolio of 'under-explored' projects, he said."
More US uranium production could be on the horizon
The last quarter of 2021 saw production at only three US uranium facilities, but producers are making preparations with a view to starting production from operations in Wyoming and Utah as the market strengthens.
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