Uranium Processing Plant to Restart
In case you missed it…
Uranium Processing Plant to Restart in Illinois
With the energy sector reeling from far reaching federal policy changes, a small but exciting announcement in the uranium industry went relatively unnoticed earlier this month. Honeywell announced plans to restart production in 2023 at their uranium hexafluoride facility in Illinois.
But why is this good news for Wyoming?
For starters, Wyoming is the largest uranium miner in the United States. In 2019, we produced approximately 173 thousand pounds of uranium and industry employed 125 people. However most of the global uranium demand is fulfilled by Russian suppliers, often making Wyoming’s producers subject to international trade agreements.
The reopening of this plant is a positive sign for the industry. It signals that prices have risen to a level that producers can meet demand while investing in domestic conversion processes. This will hopefully lead to seeing an increase in domestic uranium production, which is great news for Wyoming producers.
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