enCore Energy (NYSE: EU; TSXV: EU) has started uranium production from the South Texas Rosita uranium central processing plant.
According to the company, the restart of the previously producing Rosita facility is the first step in enCore’s South Texas production pipeline strategy utilizing the in situ recovery production process.
The company is anticipating its first shipment of yellowcake (uranium) to occur over the course of the next 45 to 60 days.
“We are honoured to be both the first uranium producer in Texas in 10 years and the newest uranium producer in the United States. We continue to push for our second uranium processing plant, the Alta Mesa CPP, to commence production in early 2024,” said CEO Paul Goranson. enCore acquired the Alta Mesa project from Energy Fuels Inc in February.
The Rosita CPP, located approximately 100 km from Corpus Christi, Texas, is a licensed, has a capacity of 800,000 lb. of uranium oxide (U3O8) per year and the ability to expand capacity within the existing license.
Located in the Texas Uranium Belt, the Rosita CPP and Wellfield lie within over 1,100m ha of mineral rights.
Shares of enCore rose 3.8% by 12:10 p.m. EDT. The lithium developer has a market capitalization of $608 million.
THIS ARTICLE WAS ORIGINALLY POSTED ON MINING.COM
April 24, 2024
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