Uranium Energy rises on US regulator approval of production boost at Wyoming plant
17/10/2024 13:40
** Shares of mining firm Uranium Energy Corp UEC.A rise
4.3% to $8.30 premarket
** Co receives approval from Wyoming Department of
Environmental Quality to boost production capacity at its
Irigaray Central Processing Plant
** Annual licensed production capacity set to increase to 4
mln pounds of U3O8, a type of uranium compound, from 2.5 mln
pounds previously
** "The extraordinary growth in nuclear power in the U.S. is
creating a new demand paradigm for uranium supply from stable
domestic sources," - CEO Amir Adnani says
** Amazon, Google, Microsoft and Oracle, are making
significant financial commitments for nuclear energy, an
approach that "reflects the realization that nuclear energy
provides safe, highly reliable, economic and clean energy" -
Adnani adds
** Up till last close, stock is up 24.38% YTD
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))