Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a Lakewood producer of uranium and rare earth elements, reported significant progress in its uranium operations, highlighting record production and ongoing development projects supported by recent executive orders from President Trump.
In May, the Pinyon Plain mine in Arizona produced nearly 260,000 pounds of U3O8, representing a 71% increase from the previous month. Over the past five months, the mine has generated approximately 478,384 pounds of U3O8. Despite anticipating challenges that could affect future production rates, the company expressed optimism regarding the mine’s potential.
Energy Fuels also completed and filed an updated Technical Report for the Bullfrog Project in Utah, indicating a substantial increase in uranium resources. The report disclosed that the project contains Indicated Mineral Resources of 10.5 million pounds of eU3O8 and Inferred Mineral Resources of 3.4 million pounds, marking increases of 15% and 70%, respectively, from earlier estimates. The mine plan anticipates an annual production rate of 700,000 to 800,000 pounds of U3O8 over a 15-year lifespan.
Furthermore, powering green initiatives, the Roca Honda mine in New Mexico is being expedited through the federal permitting process, which could streamline approvals necessary for its development. Energy Fuels sees Roca Honda as a long-term uranium producer, with estimated resources of approximately 17.6 million pounds of eU3O8.
The company has also resumed permitting activity for the EZ Complex in northern Arizona. The EZ Complex is recognized as an important long-term uranium project and has secured an air permit while working on renewing the necessary aquifer protection permits.
