US uranium producer enCore Energy (TSXV: EU) announced on Tuesday that it expects to deliver first shipment from its Rosita central processing plant in southern Texas next week.
The Corpus Christi, Texas-based company restarted production at Rosita in November of last year, and is licensed to produce 800,000 pounds of uranium ore annually.
The company also said it entered into a fifth commercial uranium sales contract with deliveries from 2026 through 2032.
“With Rosita underway, we are now moving aggressively to restart the Alta Mesa Plant, which we expect will commence production as planned in Q2 2024,” Encore CEO Paul Goranson said in a news release.
Uranium prices have doubled over the past year as top producers cut output targets, failing to ramp up production despite reopening mothballed mines.
Last month, the world’s largest producer, Kazakhstan’s Kazatomprom (LON: KAP), warned it is likely to fall short of its output targets over the next two years.
Future projects in enCore’s production pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming, along with uranium resource endowments in New Mexico.
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