Mentioned:
One of the largest uranium producers in America is breaking new records for extraction at their Arizona mine.
What’s happening:
- Energy Fuels (NYSE: UUUU) has successfully extracted 258,745 pounds of uranium in their most recent month of operations at their Pinyon Plain mine located in Arizona
By the numbers:
- Energy Fuels’ Pinyon Plain mine has previously been averaging uranium extraction of roughly 96,000 pounds per month
- The last two months Pinyon Plains produced more than 200,000 pounds of uranium in each month
Why it matters:
- This is the most amount of uranium Energy Fuels has ever extracted in a single month at their Pinyon Plain mines
Going deeper:
- Energy Fuels has also publicly stated that the uranium grades being extracted from the Pinyon Plain mine are amongst some of the highest uranium grades in all of the United States of America amongst operating uranium mines
The intrigue:
- Energy Fuels has also been making moves to expand their exposure to rare earth elements, including just recently increasing their processing capabilities to limit America’s need to depend on China for heavy rare earth elements as well as forming a new strategic partnership with The Chemours Company (NYSE: CC) to develop a more robust supply chain for rare earth elements within the United States
