Ur-Energy Plans to Double Size of Lost Creek Uranium Mine in Wyoming

The Denver Post reported that Ur-Energy (TSX:URE) plans to expand its Lost Creek in-situ mine in Wyoming to more than double its current size amid hope that uranium prices will begin to come back.
As quoted in the market news:

Littleton based Ur-Energy plans to expand its Lost Creek in-situ mine in south-central Wyoming to an area covering about 15 square miles.
Under the plan, production from the site would increase from about 800,000 pounds per year to as much 1.2 million pounds. Total permitted production would increase from 1 million to 2.2 million pounds, which includes up to 1 million tons brought to Lost Creek from elsewhere for processing into yellowcake, a uranium concentrate powder.
The proposed expansion must be approved by the U.S. Bureau of Land Management, which is now taking public comment.
Steve Hatten, Ur-Energy’s vice president of operations, said he expects the expanded portion of the mine to go into operation in a year or two. About 50 people work there.

Click here to read the full Denver Post report.