Mark Chalmers says that Energy Fuels will be soon ready to resume processing of yellowcake, the ore concentrate of uranium
In a recent InvestorIntel interview, Tracy Weslosky spoke with Mark Chalmers, President and CEO of Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR) about how Energy Fuels is positioned for filling the uranium supply gap arising from the interruption of the supply from Russia and Kazakhstan.
In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Mark Chalmers highlighted the uncertainties that the US nuclear electric utilities are facing because of their dependency on uranium supply from Russia and Kazakhstan. He also stressed the urgency for the transition to alternate uranium sources. Highlighting the current surge in uranium prices, Mark went on to provide an update on the uranium production capability at Energy Fuels’ White Mesa Mill, which he said is “closer to market than anything else in the United States.” He pointed out that within a few months of an order Energy Fuels White Mesa mill could be producing yellowcake, the uranium concentrate that is refined into nuclear reactor fuel. No other American uranium ore processor can be operational in that time frame.
To watch the full interview, click here.
About Energy Fuels Inc.
Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to commercial-scale production of REE carbonate. Its corporate offices are in Lakewood, Colorado, near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR“) Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, and has the ability to produce vanadium when market conditions warrant, as well as REE carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3O8 per year. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the Company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.”
To learn more about Energy Fuels Inc., click here.
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