Energy Fuels Inc. said that its Pinyon Plain mine in Arizona outperformed production estimates in the second quarter of 2025. The Lakewood company mined 638,700 pounds of uranium during this period, with 230,661 pounds extracted in June alone. The average uranium grade at the mine was 3.51% in June and 2.23% for the quarter.
Mark S. Chalmers, president and CEO of Energy Fuels, said, “Pinyon Plain is proving to be a truly exceptional U.S. uranium mine. In my nearly 50-year history in the uranium industry, I have not seen any other U.S. mine like Pinyon Plain. Production and drill results to date indicate that it will be the highest-grade uranium deposit to be mined in the U.S. over the past 30 years, and I believe it is likely to be one of the highest-grade uranium deposits mined in U.S. history.” He added that increased production could lower unit production costs, positively impacting the company’s financial performance.
During the second quarter, Energy Fuels sold 50,000 pounds of uranium on the spot market at an average price of $77 per pound. The company expects to sell 140,000 pounds in the third quarter and 160,000 pounds in the fourth quarter under existing contracts, with an anticipated total sale of between 620,000 and 880,000 pounds in 2026. Additionally, potential new sales contracts might arise as production increases.
