Uranium Energy Corp., a Texas based exploration and development company focused on uranium production in the U.S. using advanced on-site recovery methods, is capitalizing on the world’s first significant alternative energy boom.
The market cycle for uranium has, until recently, been largely depressed due to the virtual freeze on nuclear power station construction. Today, however, with increasing pressures against the use of fossil fuels, uranium is seen as a viable alternative, offering a well-understood, safe, efficient, and emission free source of reliable energy.
Throughout the world, nuclear power is on the rise, with China, India, and Russia alone moving forward on the construction of over 75 new reactors. But the U.S. is still the biggest consumer of uranium in the world, with 104 nuclear reactors, generating roughly 20% of the country’s energy and using 55 million pounds of uranium (U3O8) annually. Much of that uranium currently comes from foreign sources, and there are now renewed calls for more domestic sources of uranium.
UEC controls one of the largest historic uranium exploration and development databases in the country, and plans to use this vast knowledge base to continue acquiring and advancing exploration throughout the southwestern U.S. The company has concentrated its property acquisition program primarily in Texas, Wyoming, New Mexico, Arizona, Colorado, and Utah, areas that have historically shown the highest uranium concentrations for mining in the country.
The company uses “in-situ” recovery (ISR), a non-invasive and environmentally friendly mining process to extract uranium from porous sandstone aquifers by reversing the natural processes which deposited the uranium. The company’s fully licensed Hobson processing facility, located about 100 miles northwest of Corpus Christi, Texas, is designed to process uranium-loaded resins from satellite facilities to a final product commonly known as yellowcake or U3O8, and is key to all of UEC’s projects in South Texas.
As a result, UEC considers itself especially well positioned for funding and exploring uranium development.
For more information, see the company website at www.UraniumEnergy.com.
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