- Write by:
-
Friday, December 1, 2023 - 20:39:58
-
101 Visit
-
Print
Mining News Pro - enCore Energy has officially become a uranium producer, with the restart of the South Texas Rosita in-situ uranium central processing plant.
The company is anticipating its first shipment of yellowcake (uranium oxide) to occur over the course of the next 45 to 60 days. The uranium price has seen a relentless rise to $81 per lb. from under $50 per lb. at the start of the year as a gap between supply and demand emerges.
“We are honored to be both the first uranium producer in Texas in 10 years and the newest uranium producer in the United States,” CEO Paul Goranson said in a release. “We continue to push for our second uranium processing plant, the Alta Mesa CPP, to commence production in early 2024.”
enCore acquired the Alta Mesa project from Energy Fuels (TSX: EFR) in February.
Shares of enCore ended 6.2% higher in New York on Thursday. The company has a market capitalization of C$847 million.
The Rosita plant is located about 60 miles from Corpus Christi, Texas, where enCore is headquartered. It has a capacity of 800,000 lb. of U3O8 per year and the ability to expand capacity within the existing licence.
Located in the Texas uranium belt, Rosita and its wellfield lie within over 2,700 acres of mineral rights.
Short Link:
https://www.miningnews.ir/En/News/627714
Copper futures in New York rallied to a record high after a short squeeze that’s prompted a scramble to divert metal in ...
China’s CMOC Group Ltd. is being accused by a top US official of using “predatory” tactics to depress prices of a key ...
A Native American group said on Tuesday it will take its fight against Rio Tinto’s proposed Arizona copper mine to the ...
Australia’s Queensland state will decide this month whether to give Glencore a key approval to bury liquefied carbon ...
Japan’s top steelmaker, Nippon Steel, is sticking to its plan to close a deal by year-end to buy US Steel, which it ...
Copper briefly traded through $10,000 a ton as investors raised bets on Federal Reserve rate cuts, and Goldman Sachs ...
Albemarle, the world’s largest producer of lithium for electric vehicle batteries, could look at reducing capital ...
A five-year delay to decarbonization efforts could see global average temperatures rising to 3 degrees Celsius above ...
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
No comments have been posted yet ...