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enCore expects first shipment from Rosita plant next week

enCore Energy (TSX.V:EU) announced on Tuesday that it expects to deliver the first shipment of uranium from its Rosita Central Processing Plant next week.

The company restarted production at Rosita in South Texas in November last year and is licensed to produce 800,000 pounds of uranium ore annually.

The company also stated that it entered into a fifth commercial uranium sales contract with deliveries from 2026 through 2032.

“With Rosita underway, we are now moving aggressively to restart the Alta Mesa Plant, which we expect will commence production as planned in Q2/2024,” said Encore Chief Executive Officer Paul Goranson.

Uranium prices have doubled over the past year as top producers cut output targets, failing to ramp up production despite reopening mothballed mines.

Last month, the world’s largest producer, Kazakhstan’s Kazatomprom (LON: KAP), warned it’s likely to fall short of its output targets over the next two years.

Future projects in enCore’s production pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming, along with uranium resource endowments in New Mexico.

(With files from Bloomberg)

Source: MINING.COM – Read More