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Ur-Energy gears up for Shirely Basin construction next year

7th May 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Dual-listed uranium producer Ur-Energy is set to begin major construction activities for its Shirley Basin project in 2025, paving the way for production to start in the following year.

The company last month approved the buildout of a satellite facility at the Shirley Basin project, in Wyoming. This will nearly double the firm’s permitted mine production to 2.2-million pounds a year of uranium oxide (U3O8).

Work has already begun on the project, with the bid for one of the longest lead items on the project – the fabrication of IX columns – having been awarded.

Ur-Energy plans to install about 120 monitor wells for the first mine unit in the current quarter.

The satellite plant will be a relatively low-cost facility consisting of ion exchange, wastewater and groundwater restoration circuits. The ion exchange resin at Shirley Basin will be loaded with uranium from the mine and shipped to the company's operating Lost Creek in-situ recovery facility for processing before being recycled back into operations at Shirley Basin.

The satellite approach will help minimise initial facility capital costs to about $24.4-million and pre-operational wellfield development costs to $16.3-million.

Ur-Energy pulled the trigger on Shirley Basin on the back of an expanded sales contract book and encouraging market conditions.

The company notes that it has received an increasing request of proposals from utilities and global fuel buyers. The producer completed two additional sales agreement and a third subsequent to quarter-end, taking its contract book to 5.7-million pounds of U3O8 with deliveries occurring in 2024 to 2030.

“We believe we are in the right place at the right time to help fill the uranium supply gap and we will continue to advance production at Lost Creek and Shirley Basin and look for other opportunities to expand our US-based production portfolio,” says CEO John Cash.

Edited by Creamer Media Reporter

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