Ur-Energy Inc. has secured approval from the Wyoming Department of Environmental Quality’s Land Quality Division to construct and operate up to six additional mine units at its Lost Creek in situ uranium mine in south-central Wyoming. With that late April approval in hand, “we await only final concurrence and approval of the related aquifer exemption from the U.S. Environmental Protection Agency,” the company said. That approval was granted just three days later, on May 1, but Ur-Energy doesn’t plan to expand Lost Creek for “several years.”

Global Laser Enrichment has commenced uranium enrichment demonstration testing at its test loop pilot facility at the company’s headquarters in Wilmington, N.C. The technology readiness level-6 testing program is expected to be a pivotal validation of large-scale enrichment performance under operationally relevant conditions, according to the company.

BWX Technologies Inc. has purchased about 97 acres of land in an Oak Ridge, Tenn., industrial park where the company expects to build a uranium enrichment facility using a technology called DUECE, or, Domestic Uranium Enrichment Centrifuge Experiment. DUECE was developed at Oak Ridge National Laboratory to provide enriched uranium for the Department of Energy’s National Nuclear Security Administration, and BWXT is several months into a yearlong engineering study to evaluate options for deploying a centrifuge pilot plant using DUECE.

The latest edition of Uranium 2024: Resources, Production and Demand, commonly known as the Red Book, reports that current uranium resources are sufficient to meet low- and high-growth nuclear capacity needs through 2050 and beyond, but that further development of resources is still required. Even if nuclear capacity remains stable at 2050 levels through the end of the century, the report noted that cumulative demand “could exceed the current identified uranium resource base of nearly 8 million tonnes by the 2080s under the low-growth demand scenario and by the 2110s under the high-growth demand scenario outlined in this edition.”

Servis

Scientists at Argonne National Laboratory are investigating a used nuclear fuel recycling technology that could lead to a scaled-down and more efficient approach to metal recovery, according to a recent news article from the lab. The research, led by Argonne radiochemist Anna Servis with funding from the Department of Energy’s Advanced Research Projects Agency–Energy (ARPA-E), could have an impact beyond the nuclear fuel cycle and improve other high-value metal processing, such as rare earth recovery, according to Argonne.

The research: Servis’s work is being carried out under ARPA-E’s CURIE (Converting UNF Radioisotopes Into Energy) program. The specific project—Radioisotope Capture Intensification Using Rotating Packed Bed Contactors—started in 2023 and is scheduled to end in January 2026.

A combination of plentiful supply and uncertain demand resulted in spot pricing for uranium closing out March below $64 per pound, with dips down to about $63.50 during mid-March—the lowest price in 18 months, according to tracking by analysis firm Trading Economics. Spot prices have also fallen steadily since the beginning of 2024. Meanwhile, long-term prices have held steady at about $80 per pound at the end of March, according to Canadian front-end uranium mining, milling, and conversion company Cameco.

Meirzhan Yussupov

As Western countries accelerate their decarbonization efforts, nuclear power is set to play a key role in achieving net-zero emissions by 2050. For instance, the United Kingdom’s goal of expanding nuclear capacity to 24 gigawatts by mid-century, meeting 25 percent of projected electricity demand, highlights the need for reliable, low-carbon energy sources. As the world’s top uranium producer, Kazakhstan is poised to be a vital partner in this transition, supplying the fuel that powers nuclear reactors and supports the U.K.’s and other Western countries’ clean energy goals.

At COP28 in 2023, the International Atomic Energy Agency emphasized the urgent need to accelerate deployment of nuclear power to achieve net-zero carbon emissions. This sentiment was reinforced the following year at COP29, where 31 countries committed to tripling nuclear capacity by 2050 to meet global climate goals. These developments highlight the growing recognition of nuclear energy’s role in providing reliable, low-carbon power essential for a sustainable future.

Melbye

During an interview for Kitco News at the 2025 Prospectors & Developers Association of Canada (PDAC) Convention, held in Toronto in early March, the chief executive of British Columbia–based Uranium Royalty Corp. noted, “I’ve never seen a better narrative around nuclear power [and] uranium.”

CEO Scott Melbye, who is also executive vice president of Texas-based Uranium Energy Corp. and has 41 years of experience in the uranium sector, added that nuclear energy has gone from stagnation or decline to a point where it may double by 2040.

U.S. uranium production increased throughout 2024, with more growth planned in 2025. The producers who can make that happen, however, were burned before by a “renaissance” that didn’t take off. Now they are watching and waiting for signals from Washington, D.C., including the impacts of tariffs, shifting relationships with global uranium producers, and funding for the enrichment task orders designed to boost demand for U.S. uranium.

Denver-based Energy Fuels Inc., one of the largest uranium producers in the United States, has signed a landmark agreement with the Navajo Nation on the transport of uranium ore along federal and state highways that cross through Navajo land. The agreement allows the resumption of uranium ore transport from Energy Fuels’ Pinyon Plain Mine in northern Arizona to the company’s White Mesa Mill in southern Utah, where the ore is processed into natural uranium concentrates (U₃O₈).

Wright

Chris Wright, president-elect Trump’s pick to lead the U.S. Department of Energy, spent hours today fielding questions from members of the U.S. Senate’s committee on Energy and Natural Resources.

During the hearing, Wright—who’s spent most of his career in fossil fuels—made comments in support of nuclear energy and efforts to expand domestic generation in the near future. Asked what actions he would take as energy secretary to improve the development and deployment of SMRs, Wright said: “It’s a big challenge, and I’m new to government, so I can’t list off the five levers I can pull. But (I’ve been in discussions) about how to make it easier to research, to invest, to build things. The DOE has land at some of its facilities that can be helpful in this regard.”

The uranium market closed out 2024 with a spot price of $72.63 per pound and a long-term price of $80.50 per pound, according to global uranium provider Cameco.

Just one day after Urenco USA (UUSA) was picked by the Department of Energy as one of six contractors eligible to compete for future low-enriched uranium task orders, the Nuclear Regulatory Commission on December 11 formally approved the company’s license amendment request to boost uranium enrichment levels at its Eunice, N.M., enrichment facility to 10 percent fissile uranium-235—up from its current limit of 5.5 percent.

U.S. and Israeli officials are now confirming that an October 25 Israeli attack in Iran destroyed an active top secret facility for nuclear weapons research, Axios reports. The strike is said to have significantly hampered efforts by Iran to resume weapons research, despite ongoing denials from the country’s leaders that there is an active weapons program.

TerraPower announced today that it has signed a term sheet with ASP Isotopes Inc. as the first step of a planned investment in the construction of a high-assay low-enriched uranium (HALEU) enrichment facility and the eventual purchase of HALEU produced at the facility to fuel its Natrium fast reactors.

If we needed more proof that this is a “nuclear week”—in the words of Energy Secretary Jennifer Granholm on Wednesday, as she announced small modular reactor funding while celebrating tech company investments in advanced reactors—the Department of Energy came through late yesterday when, just nine days after announcing six contracts for high-assay low-enriched uranium (HALEU) deconversion, it announced four contracts for HALEU enrichment services worth up to $2.7 billion. Those contracts are going to Centrus Energy’s American Centrifuge Operating subsidiary, General Matter, Orano Federal Services, and Urenco USA’s Louisiana Energy Services.

BWX Technologies subsidiary Nuclear Fuel Services Inc. suspended operations last Friday at a Tennessee facility to assess conditions following Hurricane Helene. A company spokesperson said the site remained "in safe and secure condition."

On September 4, Tennessee Gov. Bill Lee announced that Orano had selected Oak Ridge as its preferred site to build a “multibillion-dollar” uranium centrifuge enrichment facility. For Tennessee, the announcement underscores Oak Ridge’s draw for nuclear technology companies. For Orano and the nuclear power community, the announcement is another sign the nation is edging closer to adding front-end nuclear fuel cycle capacity.

BWX Technologies announced on August 26 that its Nuclear Fuel Services subsidiary had received a contract from the National Nuclear Security Administration for a yearlong engineering study of a pilot plant capable of testing a gas centrifuge uranium enrichment technology developed at Oak Ridge National Laboratory and producing domestic-origin enriched uranium the NNSA can use for multiple national security purposes. BWXT, which has a long history of providing fuel fabrication and downblending services for the federal government, has not—until now—included enrichment in its portfolio.

Uranium enricher Urenco welcomed representatives from the International Atomic Energy Agency to an August 19 event to mark the creation of an IAEA Centre of Excellence for Safeguards and Non-Proliferation at its Capenhurst, England, site. Representatives of the three nations with ownership stakes in Urenco—the United Kingdom, the Netherlands, and Germany—were joined by representatives from the United States, where Urenco also operates an enrichment plant. Urenco expects the new center to be fully operational in 2025.