Uranium Energy boosts capacity, advances licensing

Uranium Energy (NYSE-A: UEC) says it has secured Wyoming state approval for additional header houses at its Christensen Ranch in-situ recovery operation as part of a planned expansion.

The Texas-based uranium producer has begun operating three additional header houses at wellfield 11, according to a press release dated Monday. One more head house remains subject to regulatory approval, and three more are under construction in wellfield 12 and 10-extension, the company added.

“With this approval, we have started uranium extraction at the new header houses enabling the planned increase in production volume at our Christensen Ranch operations,” said Brent Berg, senior vice president of U.S. operations.

The Christensen Ranch operation, which began in August 2024, is undergoing a major expansion with three new wellfields (10, 11, 12) to increase production. Uranium Energy is targeting up to 4 million lb. of annual capacity.

The recovered uranium is processed at the Irigaray plant, which is built to serve as the central hub for the 11 projects that UEC holds in the Powder River Basin area. In February 2025, the plant produced its first drummed uranium concentrate, and is now being upgraded for increased throughput.

Conversion facility licensing

In addition, Uranium Energy said it has moved a step closer to building a uranium refining and conversion facility, having received a docket number from the U.S. Nuclear Regulatory Commission to move forward with the application for a licence.

The facility, whose location has yet to be determined, represents a key step in the development of a vertically integrated U.S.-based uranium supply chain that connects the company’s mining operations with advanced conversion technology.

According to the company, its facility would be the largest of its kind in the country, with the capacity to produce 10,000 metric tonnes of uranium hexafluoride annually — equal to over half of U.S. demand.

The formal licence application for the plant is expected to be submitted once engineering and design activities, now under way with Fluor, are complete and a site has been selected, Uranium Energy said.

Uranium Energy shares jumped 5.4% to $13.19 apiece Tuesday in New York. That gave the company a market capitalization of about $6.5 billion (C$8.9 billion).