With nuclear power being recognized as the only existing large-scale proven source of carbon-free energy, other than hydroelectricity, nuclear power plants are being planned and built at a rate far in excess of the uranium needed to fuel them. Even now, the U.S. imports more uranium than it produces, a situation reflected around much of the world, and demand is increasing. It’s this anticipated demand for uranium that has fueled the growth of Uranium Energy and its expanding operations in south Texas.
Besides having the rights to a nationwide database of uranium exploration and mining activity, which has allowed it to target productive mining sites, UEC also has its own operating processing plant in Hobson, Texas, centrally located near its principal mining sites. There is a real need for additional processing plants in the country, and the computer controlled UEC processing plant is one of only two in the entire state of Texas. The uranium from UEC’s in-situ mining operations is trucked to the Hobson plant, where it is stored in water, which is gradually processed, filtered, and eventually dried to produce a heavy yellow powder called yellow cake. It is stored for shipment in drums and, being almost like powdered lead, each drum can weigh nearly a thousand pounds.
The important thing for UEC is that uranium in this form is worth roughly $50 per pound, depending upon the market, and the Hobson plant is expected to process about ¼ million pounds annually, which will continue to increase as new mines come online. The plant is currently allowed to process up to 1 million pounds per year, and has the physical capability of processing up to 2 million pounds per year, with further expansion possible. The goal is to have as many as 6 different projects feeding the plant, turning out up to 3 million pounds annually.
For more information, see the company website at www.UraniumEnergy.com
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