enCore expands Texas uranium license

enCore Energy Corp. (NASDAQ: EU, TSXV: EU) has received approval to include its Upper Spring Creek uranium project under its existing Radioactive Materials License from the Texas Commission on Environmental Quality.The current license, which originally covered the Rosita Uranium Project, has now been expanded to include the Brown Area of the Upper Spring Creek Project.According to the company, the expanded license enables the construction of wellfields and a Satellite Ion Exchange (IX) Plant, which will supply the Rosita processing plant.The Rosita CPP is located approximately 60 miles from Corpus Christi, where the company is headquartered. It has a licensed capacity of 800,000 pounds of uranium oxide (U₃O₈) per year.enCore aims to reach full production capacity of just under one million pounds of U₃O₈ annually by mid-2025 and plans to triple production within three years. The company is currently the only uranium producer in the United States. It operates the 100%-owned Rosita CPP in South Texas and the 70/30 Alta Mesa CPP joint venture with Boss Energy Ltd., with enCore serving as project operator.Future projects in enCore’s development pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming.The Texas regulatory approval marks enCore’s third permitted uranium facility in the state.The company has begun advancing development at Upper Spring Creek, with drilling rigs already mobilized to the site. Construction of the Satellite IX Plant’s concrete pad is expected to begin within 30 days.The Upper Spring Creek ISR Project, wholly owned by enCore, is located in the historic Clay West uranium district in South Texas. Acquired by enCore in December 2020, the project had previously been licensed and permitted for ISR uranium recovery.In its latest financial results, enCore reported a revenue increase to $58.3 million in 2024, up from $22.1 million the previous year. Despite the growth, the company posted a net loss of $68.0 million, compared to a $25.6 million loss in 2023.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com