Energy Fuels is a growing integrated producer of uranium, utilizing both in situ recovery ("ISR") and conventional production methods. We have operations in Utah, Wyoming, Arizona, New Mexico, and Colorado.
We own and control the only operational conventional uranium processing facility in the U.S., the White Mesa Mill located near Blanding, Utah. The White Mesa Mill has an operating capacity of 2,000 tons per day and the potential to process up to 8 million lbs. of uranium per year. The White Mesa Mill also has two separate circuits designed to (i) produce vanadium (as V2O5) from the uranium/vanadium mines on the Colorado/Utah border, and (ii) to process low cost alternate feed materials for the production of uranium.
After completing our June 2015 acquisition of Uranerz, we now own and operate the Nichols Ranch ISR mine and plant. Nichols Ranch is the newest uranium production center in the U.S. This In-Situ Recovery (ISR) facility, which is located in Powder River Basin area of Wyoming, has a licensed capacity of 2 million pounds of U3O8 per year and a total of 2.8 million pounds of U3O8 contained in 1.1 million tons of Measured & Indicated Mineral Resources with an average grade of 0.13% U3O8.
In addition to White Mesa and Nichols Ranch, we operate a producing uranium mine (Pinenut) and a mine in development (Canyon) in northern Arizona, which has the highest-grade uranium deposits in the United States. In addition, Energy Fuels owns numerous other projects on standby or in various stages of development and permitting, including three large-scale uranium projects which are expected to significantly increase our production in the future: the Roca Honda Project (New Mexico), the Sheep Mountain Project (Wyoming), and the Henry Mountans Project (Utah). As market conditions warrant, we expect to bring these mines into production.
As one of the largest holders of uranium and vanadium resources in the U.S., we presently own or control approximately 38.2 million tons of measured and indicated mineral resources that contain 96.2 million pounds of U3O8 at grades that range from 0.06% to 0.48% U3O8, along with 9.7 million tons of inferred mineral resources that contain 37.8 million pounds of U3O8 with grades that range from 0.07% to 0.98% U3O8. In addition, we hold significant vanadium resources (as V2O5) in the measured, indicated and inferred categories.
We believe Energy Fuels is strategically positioned to respond to market conditions and achieve sustainable and responsible long-term uranium production as the World's demand for clean, affordable nuclear energy continues to grow.
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