Ur-Energy Inc. (NYSE American:URG)(TSX:URE) has announced updates regarding its uranium production and development projects, underscoring its position as a key player in the US uranium sector. The company’s operations are centered around the Lost Creek in situ recovery (ISR) uranium project in south-central Wyoming and the under-construction Shirley Basin ISR project, which is expected to enhance production capacity.
According to a report by the US Energy Information Administration (EIA) released in December 2024, Lost Creek is now recognized as the largest uranium producer in the US, having outperformed all other mines from Q3 2023 through Q3 2024. Notably, Lost Creek’s life of mine production surpassed 3 million pounds as of Q3 2024.
Production continues to ramp up at Lost Creek, with six header houses activated in 2024. Header House 2-12 started operations in late January 2025. In Q4 2024, the company reported an average production solution head grade of 66.2 mg/L, capturing 81,767 pounds of U3O8 during the quarter and a total of 265,744 pounds for the year. The current workforce at Lost Creek consists of around 85 employees, with improved retention noted recently.
For 2025, Littleton-based Ur-Energy plans exploration programs aimed at expanding its uranium mineral resources in the Great Divide Basin, as well as further development at Shirley Basin. The installation of 120 monitor wells at Shirley Basin was completed in 2024, showing promising hydrologic test results. Drilling for production wells is set to commence in Q2 2025, complemented by ongoing production testing at Mine Unit 1.
Construction efforts at Shirley Basin are advancing as scheduled, with the power supply and access road completed. The modular office space is expected to be delivered in Q3 2025, while major construction is anticipated to wrap up by late 2025.
