Uranium is the basis for nuclear power, a clean, reliable baseload energy source. Nuclear power provides a high capacity of energy production, something that is an issue for intermittent sources of energy. As a baseload power, nuclear supplies energy precisely when it’s needed in a reliable way making a steady supply of uranium for nuclear power plants critical.
Ur-Energy began production operations at its Lost Creek Uranium Project in Wyoming in 2013. In 2020, the company suffered no interruption due to the COVID-19 pandemic and, to date, since operations and sales commenced, Ur-Energy has sold 2.4 million pounds of Lost Creek uranium production. Lost Creek’s production to date has been from only its first two mine units – of 12 reported resource areas. Most recently, Ur-Energy received additional authorizations to operate and recover uranium in its LC East Project, adjacent to Lost Creek. The greater Lost Creek Property is actually six individual projects ready for additional exploration and expansion to continue to produce essential uranium. As we move forward into recovery beyond COVID-19, we can count on companies like Ur-Energy to continue to produce material for the reliable energy we need.