Curtis Moore, Energy Fuels’ vice president of marketing, said the Toronto and New York listed firm was likely to be the second largest producer of uranium in the USA in 2016 after Cameco.
The market has been in decline in recent years but excitingly is now showing signs of life, he noted, with production cuts in Kazakhstan and new legislation in the USA, factors behind the price rise.
“We are going to produce about a million pounds (of uranium) in 2016,” he said.
“Until the recent increase in prices we were looking to cut production a little bit in 2017 but we now have the ability to actually increase production if we see the sustained price increase,” he added.
Story by ProactiveInvestors