Home / Business and Economy / US Uranium Facility to Expand Dramatically
US Uranium Facility to Expand Dramatically
3 Jun
Summary
- Urenco USA facility will expand by nearly 50% to bolster domestic nuclear fuel supply.
- The Eunice, New Mexico site will add 2.1 million SWU capacity by 2036.
- Expansion is timed as US ban on Russian uranium imports nears full effect in 2028.
Urenco USA has announced a substantial expansion of its Eunice, New Mexico, facility, the sole commercial uranium enrichment site in the United States. This significant investment, amounting to billions of dollars, will increase the facility's capacity by nearly 50%.
The expansion will add 2.1 million separative work units (SWU) using advanced gas-centrifuge technology. This will raise the annual capacity from 4.3 million SWU to 6.4 million SWU. Operations for the first cascades are anticipated to begin in 2032, with additional installations continuing through 2036.
This strategic development is occurring as the United States finalizes a ban on enriched-uranium imports from Russia, scheduled for full implementation by 2028. Russia currently accounts for as much as a quarter of the U.S. uranium supply, making domestic production capabilities increasingly critical.
The news has positively impacted the stock market, with shares of uranium-related companies such as Cameco, Energy Fuels, Ur-Energy, Uranium Energy, Oklo, and Centrus Energy showing upward movement following the announcement.
