Summary by Moomoo AI
Uranium Energy Corp (UEC) has received approval to increase the licensed production capacity of its Irigaray Central Processing Plant to 4 million pounds of U3O8 annually. This expansion strengthens UEC's hub-and-spoke production strategy in Wyoming's Powder River Basin, supporting four fully permitted uranium ISR satellite projects including the producing Christensen Ranch.UEC is advancing its U.S. production capabilities amid growing demand for domestic uranium supply, driven by nuclear power expansion and investments from tech giants. The company is also acquiring Rio Tinto's Wyoming assets, which will provide a third production platform in the Great Divide Basin, adding 4.1 million pounds of licensed capacity and 175 million pounds of historic resources.With the Irigaray expansion and pending Rio Tinto asset acquisition, UEC will have a combined U.S. licensed production capacity of 12.1 million pounds of U3O8 annually across three hub-and-spoke platforms in Wyoming and Texas. The company has engaged Stantec for engineering services to optimize its planned Powder River Basin production expansion.
