Energy Fuels (TSX:EFR) has announced plans to reopen its Nichols Ranch in-situ recovery uranium mine located in Wyoming. The company anticipates commencing production in the last of its permitted Production Area 2 by July 1, 2025, subject to market conditions.
Mark Chalmers, CEO of Energy Fuels, expressed satisfaction with the progress made in preparing Nichols Ranch for potential production restart in 2025. The company is currently undertaking delineation drilling and intends to advance infrastructure development in its permitted PA2 area at the mine.
Energy Fuels emphasized the strategic importance of the Nichols Ranch ISR facility in its development pipeline. Additionally, the company secured a new uranium supply contract with a U.S. nuclear energy utility in Q2 2024 to support the domestic uranium industry.
Headquartered in Denver, Colorado, Energy Fuels is a prominent producer of uranium in the United States. The company mines uranium and produces natural uranium concentrates for major nuclear utilities to generate carbon-free nuclear energy.
As of 10:55 am ET, shares of Energy Fuels (TSX:EFR) have increased by 5.61% to C$6.50. Investors can stay informed about industry discussions and stock performance on the Energy Fuels Bullboard investor discussion forum on Stockhouse. Please note that the information provided in this article is for informational purposes only and should not be construed as investment advice. For full disclaimer details, please refer to the provided link.
