Energy Fuels to process uranium in Blanding, Utah
Energy Fuels Inc. and a mining company have reached agreement to mill uranium at Energy Fuels’ existing mill in Utah.
The agreement marks the second revenue-producing step Energy Fuels has taken recently, the first being the sale of uranium to various customers in 2012.
“It’s another revenue stream,” Energy Fuels spokesman Curtis Moore said. “We’re trying to diversify our asset base and revenue streams.”
Ore from Laramide’s La Sal II mine will be processed at Energy Fuels’ White Mesa Mill near Blanding, beginning with testing of up to 20,000 tons. Laramide will pay the costs to mill its ore, a capital charge plus a per-ton toll milling fee partly linked to the long-term uranium price.
Laramide’s La Sal II is located in the Lisbon Valley Uranium District in San Juan County, Utah, about 55 miles from the White Mesa Mill.
Energy Fuels continues efforts to construct a $150 million mill in Naturita. That mill would serve mines in the Uravan Mineral Belt, including Mesa and Montrose counties.