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energy|mining|nuclear|operations

Uranium producer enCore sees first shipment from Rosita plant next week

5th March 2024

By: Reuters

  

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Uranium producer enCore Energy said on Tuesday it expects to deliver the first shipment of uranium from its restarted Rosita Central Processing Plant next week.

enCore is one of the many mining companies that have restarted operations as the prices of nuclear fuel have soared, driven by renewed interest in Nuclear energy.

The Corpus Christi-Texas-based company restarted uranium production at its Rosita plant in South Texas in November last year and is licensed to produce 800 000 pounds of uranium ore annually.

Uranium prices have doubled over the past year as top producers cut output targets as they failed to ramp up production despite reopening mothballed mines.

Encore expects to deliver the initial shipment to a conversion facility in the week of March 11 before delivering the uranium to a utility customer under sales contracts.

The company also said it entered into a fifth commercial uranium sales contract with deliveries from 2026 through 2032.

"With Rosita underway, we are now moving aggressively to re-start the Alta Mesa Plant, which we expect will commence production as planned in Q2/2024," said Encore CEO Paul Goranson.

Edited by Reuters

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