The Conversation (0)
October 28, 2024
Gladiator Resources Ltd (ASX: GLA) (Gladiator or the Company) is pleased to provide shareholders with the Company’s Activities and Appendix 5B Cashflow Report for the quarter ending 30 September 2024.
HIGHLIGHTS
- Completion of drilling at the Mkuju Project - 20 diamond core holes for 2800 m of drilling, testing the SWC and Mtonya targets, and testing potential extensions to the Likuyu North deposit.
- At SWC, high-grade uranium from surface including:
- 3.8m @ 2,458ppm eU3O8 from surface,
- 2.4m @ 3,528ppm eU3O8 from surface,
- 1.8m @ 3,089ppm eU3O8 from surface and 1.2m @ 988ppm eU3O8 from 5.9m depth
- At Mtonya, best interval of 2.3m @ 372ppm eU3O8 from 6.16m depth.
- At Likuyu North, possible moderate extension to the deposit indicated by visual mineralisation in LNDD015, now awaiting assays; and
- LNDD020 drilled central to the Likuyu North deposit to provide information for an initial assessment of In-Situ Recovery (ISR); intersected 6 mineralised intervals including:
- 2.5 metres with an average grade of 438 ppm eU3O8 from 17.1m depth.
- 7.1 metres with an average grade of 1,963 ppm eU3O8 from 63.1m depth.
MKUJU URANIUM PROJECT - TANZANIA
Table 1 summarises the work completed during the quarter at the Mkuju Project.
Table 1. Summary of the work at each target
Figure 1: The Mkuju Project area over airborne radiometric data with important deposits and targets labelled.
SWC TARGET EXPLORATION
During May 2024 a camp was constructed and a drilling and exploration crew was mobilized. The holes drilled at SWC are shown on Figure 2. Table 2 provides the results of the SWC and Mtonya drilling. The drilling at SWC was to follow-up on the high-grade intervals achieved from the trenches reported in the Company announcement dated 9th January 2024.
Figure 2. Map of the SWC and Mtonya targets showing historic and Gladiators drilling
All holes were vertical, drilling was by diamond core and the deepest was 188.7 metres. The results were reported in announcements dated 24th June and 16th August 2024. Selected results are provided below:
- SWDD001: 3.8m @ 2,458ppm eU3O8 from surface.
- SWDD002: 2.4m @ 3,528ppm eU3O8 from surface.
- SWDD005: 1.8m @ 3,089ppm eU3O8 from surface and 1.2m @ 988ppm eU3O8 from 5.9m depth
- SWDD006: 5.3m @ 143ppm eU3O8 from 3.0m depth
The trench and high-grade drilling intersections are interpreted to be the remains of a layer that is preserved on topographic highs within a relatively downthrown block, as illustrated in Figure 3, which represents a cross-sectional interpretation through SWC. Where the layer is at or very near surface as in SWDD001 and SWDD002, enrichment by supergene processes may have occurred whereas where deeper and unaffected by the surficial enrichment, as in SWDD006, grades are lower. No significant mineralisaton was intersected deeper in the holes drilled at SWC.
Click here for the full ASX Release
This article includes content from Gladiator Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
GLA:AU
13h
Acquires Extensive Uranium and Rare Earth Portfolio
25 August
Kazatomprom Cuts 2026 Uranium Output as Market Tightens, Demand Seen Rising
Kazatomprom, Kazakhstan’s state-owned uranium giant, said it will scale back production in 2026, noting that current supply and demand dynamics do not justify a return to full capacity even as long-term prices hold firm.
The company, which accounts for more than one-fifth of the world’s primary uranium output, said in an August 22 release that it expects to lower production by roughly 10 percent next year compared to earlier targets.
It will reduce its nominal output level from 32,777 metric tons of U3O8 to 29,697 metric tons.
That equates to a drop of around 8 million pounds of uranium, or about 5 percent of global supply. Most of the reduction will come from adjustments at Kazatomprom's Budenovskoye joint venture.
“As the world’s largest producer and seller of natural uranium, Kazatomprom fully recognises the critical role the Company has in supporting the global energy transition,” Chief Executive Meirzhan Yussupov commented.
Kazatomprom said the present environment does not warrant lifting production to the 100 percent level. The long-term uranium price is currently stable at around US$80 per pound, despite volatility in the spot market.
Instead, the company said it plans to “exercise its downflex opportunity within the acceptable 20 percent deviation under the updated 2026 Subsoil Use production levels.” Actual guidance for the 2026 output will be released later.
The company further added that supplies of sulfuric acid, a critical reagent for the in-situ recovery mining method used across its operations, are expected to be stable in 2026.
Kazatomprom also pointed to Kazakhstan’s own nuclear energy ambitions. The government has floated plans for three nuclear power plants, each of which would require about 400 metric tons (1.04 million pounds) of uranium annually.
The company's updates came as part of its half-year results. Kazatomprom reported a 54 percent fall in net profit to 263.2 billion Kazakhstani tenge (around US$489.5 million) in the first six months of 2025, compared with the same period a year earlier. Revenue slipped 6 percent to 660.2 billion tenge due to lower sales volumes.
In August 2024, the company cut its 2025 uranium output forecast by 12 to 17 percent amid a sulfuric acid shortage.
Its new acid plant won’t be ready until at least 2026, while higher mineral extraction taxes, which commenced earlier this year, are set to raise costs and erode its traditional competitive edge. But even as it trims output targets, Kazatomprom stressed that it is pushing ahead with large-scale exploration programs across Kazakhstan. The initiatives are aimed at replenishing reserves and safeguarding the company’s status as the leading global supplier of nuclear fuel.
“Kazatomprom is currently undertaking a large-scale exploration in Kazakhstan, which is a top priority for replenishing its resource base and maintaining its leading position as a global nuclear fuel supplier,” Yussupov said.
Potential uranium market deficit ahead
Although Kazatomprom has seen a decline in profits, uranium sector major Cameco (TSX:CCO,NYSE:CCJ) registered growth in Q2 of this year, and is anticipating a broad uptick in global demand.
“We believe that supportive government policies, the tangible actions of energy-intensive industries, and positive public conversations are all pointing to a global convergence: nuclear energy is a critical solution for providing clean, constant, secure and reliable power to electrify global economies," wrote President and CEO Tim Gitzel in July.
Given uranium's key role in clean energy, FocusEconomics analysts are forecasting that prices will stay well above 2010 levels through the decade, with price sprojected in the US$65 to US$80 range.
The World Nuclear Association (WNA) projects that uranium demand will rise 28 percent by 2030, outpacing an 18 percent supply increase, driven by emerging market growth, artificial intelligence-related power needs, modular reactor adoption and energy security concerns. Primary uranium production from mines, conversion plants and enrichment plants meets most global reactor demand, with secondary supply helping bridge short-term gaps.
"However, secondary supply is projected to have a gradually diminishing role in the world market, decreasing from the current level in supplying 11-14 percent of reactor uranium requirements to 4-11 percent in 2050," the WNA states.
Despite the looming shortfall in the uranium sector, FocusEconomics analysts don’t anticipate a return to 2024’s highs, when prices overshot fundamentals amid investor exuberance.
“Supply/demand dynamics are supportive of higher uranium prices: We forecast a structural supply deficit of ~20 million pounds in 2025 to grow to ~130 million pounds by 2040, or representing 40 percent-45 percent undersupply," the firm states. "This view is supported by increasing demand for uranium as the global nuclear fleet expands to support growing power needs amid a lack of meaningful potential supply to come online.”
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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20 August
Guide to Uranium Mining in Canada
Uranium mining in Canada accounts for 13 percent of global output, making the Great White North the second largest producer of uranium in the world, behind only Kazakhstan.
Canada hosts 9 percent of the world’s uranium resources and is home to the biggest deposits of high-grade uranium. Their grades of up to 20 percent uranium are 100 times greater than the global average.
Canadian uranium deposits are found mainly in the provinces of Saskatchewan, Newfoundland and Labrador, and Québec, as well as the territory of Nunavut. Of these, Saskatchewan leads the country in both uranium exploration and production.
In this article
Top Canadian uranium mines
Canada is home to three producing uranium mines, Cigar Lake, McArthur River and McClean Lake, all of which are located in Saskatchewan's Athabasca Basin.
Saskatchewan is a premier uranium mining jurisdiction as home to the Athabasca Basin, a mining-friendly region in the north of the province that's renowned for its high-quality uranium deposits. The area's long uranium-mining history has made Canada an international leader in the uranium sector.
Canada’s major uranium mining companies are Cameco (TSX:CCO,NYSE:CCJ) and Orano Canada, a subsidiary of the multinational company Orano Group. Cameco is the majority owner and operator of Cigar Lake and McArthur River. Orano holds a significant stake in both mines, and is also the majority owner and operator of the recently restarted McClean Lake operation.
Data and information on the Canadian uranium mines and advanced projects discussed below is taken from mining database MDO. The database only includes projects that have at least partial ownership by public companies.
1. Cigar Lake mine
Ownership:
54.547% — Cameco
40.453% — Orano Canada
5% — TEPCO Resources
Province: Saskatchewan
Mine type: Underground
Deposit type: Unconformity-related
Cigar Lake, which entered commercial production in 2015, is one of Canada’s largest uranium mines and the world’s highest grade uranium mine. The underground mining operation involves the use of innovative mining methods such as jet boring, which was purposely designed by Cameco to tackle the unique challenges of the Cigar Lake deposit.
For 2024, production at the Cigar Lake mine was reported at 16.9 million pounds U3O8, up 2 million pounds from the previous year. Guidance for 2025 stands at approximately 18 million pounds.
Cigar Lake’s proven and probable reserves stand at 551,400 metric tons of ore grading 15.87 percent U3O8 for 192.9 million pounds of contained U3O8. Its mine life is expected to run until 2036.
2. McArthur River-Key Lake mine
Ownership:
McArthur River mine
69.805% — Cameco
30.195% — Orano Canada
Key Lake mill
83.3% — Cameco
16.7% — Orano Canada
Province: Saskatchewan
Mine type: Underground
Deposit type: Unconformity-related
The McArthur River-Key Lake operation is home to the McArthur River mine and Key Lake mill, respectively the largest high-grade uranium mine and largest uranium mill in the world, according to MDO.
McArthur River was first brought into production in 2000 using raiseboring and blast hole stoping mining methods, but was put on care and maintenance temporarily in early 2018 due to low uranium prices. Cameco brought the mine and mill back into production in late 2022, progressively ramping up output over the next few years.
Production in 2024 came in at 20.3 million pounds U3O8, up nearly 43 percent from the previous year’s output, and production guidance for 2025 has been set at 18 million pounds.
McArthur River’s proven and probable reserves total 2.49 million metric tons grading 6.55 percent U3O8 for 359.6 million pounds of contained metal. Its mine life extends out to 2044.
3. McClean Lake mine and mill
Ownership:
77.5% — Orano Canada
22.5% — Denison Mines (TSX:DML)
Province: Saskatchewan
Mine type: Surface mine
Deposit type: Unconformity-related
The McClean Lake mine re-entered production in July 2025, 17 years after it was shuttered in 2008 due to low uranium prices made the operations uneconomic.
After studies demonstrated that the joint venture partners’ patented surface access borehole resource extraction (SABRE) mining method could bring McClean back to life economically, the decision was made in January 2024 to bring the asset back into production.
The site hosts multiple deposits, including the now-producing McClean North deposit. It also boasts the only mill in the world designed to process high-grade uranium ore without dilution, according to MDO. The mill has the capacity to produce 24 million pounds of uranium concentrate, or yellowcake, annually. Currently, the mill is processing ore from the Cigar Lake mine under a toll mining agreement.
Proven reserves at McClean Lake are in the form of ore stockpiles, and total 90,000 metric tons at a grade of 0.37 percent for U3O8 for 700,000 pounds of contained metal. The site also hosts significant indicated and inferred resources of 25.4 million pounds across the McLean North, Sue D and Sue F deposits.
The partners expect to produce approximately 800,000 pounds of U3O8 from McClean North in the first year of operations. In addition, mining at the McClean North and Sue F deposits has the potential to produce about 3 million pounds from 2026 to 2030.
Upcoming Canadian uranium mines
There are a handful of contenders for Canada's next uranium mine: Patterson Lake South, Rook 1 and Wheeler River. None are in the construction stage yet, but most are expecting to come online in the next few years. Learn about the advanced uranium projects below.
1. Patterson Lake South
Ownership: Paladin Energy (TSX:PDN,ASX:PDN)
Province: Saskatchewan
Mine type: Underground
Deposit type: Basement hosted vein-type or fracture-filled
Currently in the permitting phase, the Patterson Lake South (PLS) project hosts the large, high-grade and near-surface Triple R deposit, which has the potential to produce both uranium and gold. The project has a probable mineral reserve estimate of 93.7 million pounds of contained uranium from 3 million metric tons grading 1.41 percent U3O8.
The 2023 feasibility study for PLS highlights average production of approximately 9 million pounds U3O8 per year over a 10 year mine life.
Paladin added the PLS uranium project to its portfolio in December 2024 via its acquisition of Fission Uranium. The company is continuing to develop the PLS's resource potential outside of the Triple R deposit, with a significant focus on the project's Saloon East zone. Advancing through the environmental permitting process remains ongoing.
2. Rook 1
Ownership: NexGen Energy (TSX:NXE)
Province: Saskatchewan
Mine type: Underground
Deposit type: Basement-hosted, vein-type
NexGen Energy’s Rook 1 project, home to the Arrow deposit, is in the permitting stage with a feasibility study completed in February 2021. Arrow hosts probable mineral reserves of 239.6 million pounds of U3O8 from 4.57 million metric tons of ore at a grade of 2.37 percent, as well as a measured and indicated resource of 256.7 million pounds from 3.75 million metric tons at 3.1 percent.
Over its 11.7 year mine life, Rook 1 is expected to produce an average of 19.8 million pounds of U3O8 per year, including over 25 million pounds during the first five years.
Provincial environmental assessment approval was granted in November 2023, and the federal environmental impact statement was accepted as final in January 2025. In March 2025, the company shared that the Canadian Nuclear Safety Commission has proposed hearing dates for the Rook I project on November 19, 2025, and February 9 to 13, 2026.
NexGen states that a full project execution team is at the ready and the site is fully prepared for construction activities to commence following final federal approval.
3. Wheeler River
Ownership:
95% — Denison Mines
5% — Uranium Energy (TSX:UEC,NYSEAMERICAN:UEC)
Province: Saskatchewan
Mine type:
Phoenix — In-situ recovery
Gryphon — Underground
Deposit type: Unconformity-related
The Wheeler River uranium project, billed as the largest undeveloped uranium project in the eastern region of the Athabasca Basin, is home to the high-grade Phoenix and Gryphon deposits. Each deposit is considered a standalone asset, and the Phoenix deposit is the more advanced of the two.
A feasibility study for the Phoenix deposit as an in-situ recovery operation was completed in mid-2023. In February 2025, Denison reported that the Canadian Nuclear Safety Commission is set to conduct hearings for the project’s environmental assessment and license to prepare and construct a uranium mine and mill on October 8 and December 8 to 12, 2025. If granted approval, Denison is prepared to start construction in early 2026, followed by first production by the first half of 2028.
As for the Gryphon deposit, an update to the pre-feasibility study for a conventional underground mining operation was completed in 2023. Denison conducted a field program in the first quarter of 2025 as part of its efforts to support a feasibility study.
Canadian uranium exploration companies
Canada is also home to a slew of uranium exploration and development companies focused on discovering uranium in Saskatchewan, Nunavut and Newfoundland and Labrador.
- ATHA Energy (TSXV:SASK,OTCQB:SASKF) has an extensive uranium exploration pipeline across Saskatchewan’s Athabasca Basin, Nunavut’s Thelon Basin and the Central Mineral Belt of Newfoundland and Labrador.''
- Azincourt Energy (TSXV:AAZ,OTCQB:AZURF) is working on its Harrier project in Newfoundland and Labrador and its East Preston joint venture project in the Western Athabasca Basin.
- Baselode Energy (TSXV:FIND,OTCQB:BSENF) is focused on its ACKIO near-surface discovery at its Hook project adjacent to the Athabascan Basin, part of its Athabasca 2.0 strategy. It is in the process of acquiring Forum Energy Metals.
- CanAlaska Uranium (TSXV:CVV) is a project generator with a portfolio of assets in the Athabasca Basin, including the West McArthur joint venture with Cameco, which is situated near the McArthur River/Key Lake mine.
- F3 Uranium (TSXV:FUU,OTCQB:FUUFF) has three advanced exploration properties in the western region of the Athabasca Basin: Patterson Lake North, Minto and Broach.
- Forum Energy Metals (TSXV:FMC,OTCQB:FDCFF) has wholly owned and joint venture projects in the Athabasca Basin and Nunavut's Thelon Basin, which hosts the company's Aberdeen project.
- North Shore Uranium (TSXV:NSU) is focused on discovering economic uranium deposits at the eastern margin of the Athabasca Basin, namely the Falcon and West Bear projects.
- Patterson Metals (TSXV:PAT) owns the Carter Lake uranium project in the Western Athabasca Basin and the recently acquired Pendleton Lake uranium project in the southeast region of the basin.
- Purepoint Uranium (TSXV:PTU) has an extensive uranium portfolio with six joint ventures and five wholly owned projects, all located in the Athabasca Basin, including a joint venture with IsoEnergy on an extensive land package.
- Skyharbour Resources (TSXV:SYH,OTCQX:SYHBF) is another junior mining company with an extensive portfolio of uranium exploration projects in the Athabasca Basin, comprising 36 uranium projects covering over 614,000 hectares.
- Standard Uranium (TSXV:STND,OTCQB:STTDF) is an emerging project generator that holds interests in over 94,476 hectares in the Athabasca Basin, including its flagship Davidson River project in the southwest region of the basin.
This is an updated version of an article first published by the Investing News Network in 2017.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Baselode Energy, Purepoint Uranium, North Shore Uranium and SkyHarbour Resources are clients of the Investing News Network. This article is not paid-for content.
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11 August
Snow Lake Completes Due Diligence and Confirms Placement
07 August
North Shore Announces Non-Brokered Private Placement
North Shore Uranium Ltd. (TSXV:NSU) ("North Shore" or the "Company") is pleased to announce a non-brokered private placement offering for aggregate gross proceeds of up to $1,400,000, through the issuance of a combination of non-flow-through units (the "NFT Units") at a price of $0.05 per NFT Unit and flow-through units (the "FT Units") at a price of $0.065 per FT Unit (the "Offering"). Each NFT Unit consists of one non-flow-through common share and one-half of one share purchase warrant (each whole share purchase warrant, a "Warrant"). Each FT Unit consists of one flow-through common share and one-half of one Warrant. Each Warrant entitles the holder to purchase one non-flow through common share (each a "Warrant Share") at a price of $0.10 per Warrant Share for a period of two years from closing of the Offering.
As announced June 24, 2025, the Company entered into a binding term sheet (the "Term Sheet") with Resurrection Mining LLC ("Resurrection"), an arm's length party, to acquire up to 87.5% of the Rio Puerco uranium project ("Rio Puerco"or the "Project") located in northwestern New Mexico (the "Transaction"). Completion of the Transaction is contingent on North Shore completing satisfactory due diligence, execution of a definitive agreement, completion of a minimum $750,000 financing by North Shore, and approval by the TSX Venture Exchange (the "Exchange").
The net proceeds of the Offering will be used to complete the Transaction, exploration of the Rio Puerco uranium project in New Mexico, continued exploration of the Company's Saskatchewan uranium properties, the costs of the Offering and for general working capital.
The securities issued in connection with the Offering will be subject to a four-month and one-day hold period. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Exchange. Finder's fees may be payable in the Offering.
Caution to US Investors
The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements. "United States" and "U.S. person" have the respective meanings assigned in Regulation S under the U.S Securities Act.
ABOUT NORTH SHORE
The nuclear power industry is in growth mode as more nuclear power will be required to meet the world's ambitious CO2 emission-reduction goals and the needs of new power-intensive technologies like AI. In this environment, new discoveries of economic uranium deposits will be very valuable, especially in established uranium-producing jurisdictions like Saskatchewan and New Mexico. North Shore is well-positioned to become a major force in exploration for economic uranium deposits. The Company is working to achieve this goal by exploring its Falcon and West Bear properties at the eastern margin of the Athabasca Basin in Saskatchewan, expanding its exploration efforts to include the Grants Uranium District in New Mexico and by evaluating other quality opportunities in the United States and Canada to complement its portfolio of uranium properties. North Shore summarized its exploration efforts at its Falcon property in a May 27, 2025, news release.
ON BEHALF OF THE BOARD
Brooke Clements,
President, Chief Executive Officer and Director
For further information:
Please contact: Brooke Clements, President, Chief Executive Officer and Director
Telephone: 604.536.2711
Email: b.clements@northshoreuranium.com
www.northshoreuranium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "project", "appear", "interpret", "coincident", "potential", "confirm", "suggest", "evaluate", "encourage", "likely", "anomaly", "continuous" and variations of these words as well as other similar words or statements that certain events or conditions "could", "may", "should", "would" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the completion of the Offering; the completion and expected terms of the Transaction, the parties' abilities to meet the closing conditions of the Transaction, the number of securities to be issued by the Company in connection with the Transaction, receipt of all necessary approvals for the completion of the Offering and Transaction respectively, the completion of satisfactory due diligence, execution of a definitive agreement, and the Company's ability to meet the terms of the Transaction; the highly speculative nature of the Transaction given the early-stage nature of Rio Puerco; the actual results of current and planned exploration activities including the potential for the definition of a mineral deposit of potential economic value at the Company's Falcon property in Saskatchewan; that drilling results, geophysical survey results and/or interpretations thereof define potentially mineralized corridors; results from future exploration programs including drilling; interpretation and meaning of completed and future geophysical surveys; conclusions of future economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in grades of mineralization and/or future actual recovery rates; accidents, labour disputes and other risks of the mining industry; the availability of sufficient funding on terms acceptable to the Company to complete the planned work programs; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated, or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
Click here to connect with North Shore Uranium Ltd. (TSXV:NSU) to receive an Investor Presentation
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06 August
Uranium Energy’s Sweetwater Project Fast-Tracked Under Trump Initiative
In the latest show of federal support for domestic uranium production, Uranium Energy (NYSEAMERICAN:UEC) Sweetwater uranium complex in Wyoming has been designated for expedited permitting under the Trump administration’s FAST-41 initiative.
The designation, announced August 5, places Sweetwater on the Federal Permitting Improvement Steering Council’s FAST-41 dashboard, a move that aims to accelerate environmental reviews and interagency approvals under a framework established by the 2015 Fixing America’s Surface Transportation (FAST) Act.
The initiative is part of the Trump administration's strategy to revitalize the US nuclear fuel supply chain and reduce reliance on imports from geopolitical rivals.
“Sweetwater’s selection under FAST-41 reinforces its national importance as a key project to achieve the United States’ goals of establishing reliable infrastructure, supporting nuclear fuel independence,” said UEC President and CEO Amir Adnani in a statement.
“On completing this tack-on permitting initiative, Sweetwater will be the largest dual-feed uranium facility in the United States, licensed to process both conventional ore and ISR resin.”
Located in Wyoming’s Great Divide Basin, the Sweetwater complex is anchored by a fully licensed conventional uranium mill with a capacity of 3,000 metric tons per day and a licensed annual output of 4.1 million pounds.
The site previously included several permitted mines—Sweetwater (Red Desert), Big Eagle, and Jackpot (Green Mountain)—that were approved for conventional methods but will now be evaluated for In-Situ Recovery (ISR) mining, a lower-impact extraction technique.
The new permitting push will allow UEC to modify existing approvals to incorporate ISR capabilities both within and beyond the current mine boundary, including on adjacent federal lands managed by the Bureau of Land Management (BLM).
The BLM, under the Department of the Interior, is the lead permitting agency for the initiative.
“This will provide the Company unrivaled flexibility to scale production across the Great Divide Basin, leveraging UEC’s leading domestic resource base,” Adnani added.
Sweetwater is the second uranium project to receive fast-track treatment under the new policy, following Anfield Energy TSXV:AEC,OTCQB:ANLDF) Velvet-Wood project in Utah, which was granted the status in May.
Velvet-Wood was the first uranium asset to be placed on the FAST-41 dashboard. It is expected to supply uranium for both civilian nuclear energy and defense applications, as well as vanadium, a strategic metal used in batteries and alloys.
Anfield’s Velvet-Wood received accelerated environmental review under a January 20 declaration by President Trump, which cited a national energy emergency and called for urgent steps to restore American energy independence. According to Anfield, the review timeline was cut from what could have taken years to just 14 days.
Taken together, the two fast-tracked uranium projects are a display of a wider federal pivot toward rebuilding a domestic nuclear supply chain, which has withered in recent decades amid low prices and competition from Russia, China, and other state-backed producers.
“I am excited to welcome the Sweetwater Complex to the FAST-41 transparency dashboard in support of President Trump’s goal of unlocking America’s mineral resources,” said Emily Domenech, Executive Director of the Federal Permitting Improvement Steering Council.
The White House confirmed in April that 10 mining projects had been selected so far under the initiative, covering minerals such as copper, gold, lithium, phosphate, potash, and uranium.
With Sweetwater, UEC will operate three hub-and-spoke uranium platforms in the United States: one in South Texas, another in Wyoming’s Powder River Basin, and the Sweetwater Complex in the Great Divide Basin.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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