https://newsletter.mw.creamermedia.com
Construction|Energy|Nuclear|PROJECT
Construction|Energy|Nuclear|PROJECT
construction|energy|nuclear|project

Ur-Energy sees ‘dramatic’ uptick in RFPs for uranium sales

31st October 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

As prices of uranium continue to enjoy sustained increases, US-based Ur-Energy has witnessed a “dramatic increase” in request for proposals (RFPs) for uranium sales from utilities in the US, Europe and Asia.

In its third-quarter report, CEO John Cash reported that the company had responded to the RFPs with higher priced bids, recognising the premium paid for North American production owing to its geopolitical stability.

Ur-Energy is the only active uranium miner in the US and one of only two active miners in North America.

“We are optimistic that the price of uranium will continue to increase, and we look forward to continuing to fill our contract book with production from the active Lost Creek operation and from the fully permitted Shirley Basin project once a construction decision is made,” said Cash.

Ur-Energy is in advanced discussions with three companies in the global nuclear industry for additional sales commitments. “We are optimistic that negotiations with all three purchasers will result in completing additional sales agreements during the fourth quarter,” the company said.

Stronger prices over the past year have enabled Ur-Energy to secure multi-year sales agreements with nuclear companies. The firm’s three agreements call for combined delivery of 600 000 lb/y to 700 000 lb/y of uranium oxide (U3O8) over five years, starting in 2024.

In the third quarter, the miner delivered 90 000 lb of U3O8 into the sales commitments under these agreements, and it will deliver another 90 000 lb in the fourth quarter.

In the first nine months of 2023, Ur-Energy sold 190 000 lb of U3O8 at an average price of $62.56/lb.

With the Department of Energy sale in the first quarter, Ur-Energy anticipates selling a total of 280 000 lb U3O8 this year at an average price of $61.89/lb for proceeds of $17.3-million with average gross profit margins expected to be above 40%.

Edited by Creamer Media Reporter

Comments

 

Showroom

Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Minerals Council South Africa CEO Mzila Mthenjane
Minerals Council optimistic about ongoing MPRDA review
13th December 2024 By: Marleny Arnoldi
Magazine round up | 13 December 2024
Magazine round up | 13 December 2024
13th December 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.1 0.175s - 127pq - 2rq
Subscribe Now