Uranerz Energy has signed a processing agreement with Cameco’s subsidiary Cameco Resources for processing uranium.
Under the terms of the agreement, Uranerz will supply its uranium-loaded resin from its Nicholas Ranch in-situ recovery operations to Cameco’s Smith Ranch Highland uranium mine.
The uranium-loaded resin will be processed to into dried uranium concentrate packaged for shipping to a converter.
Smith Ranch Highland mine is located about 45 air miles south of the Nichols Ranch ISR uranium mining project in Powder River Basin of Wyoming, US.
Uranerz Energy president and COO George Hartman said that the firm will retain the regulatory and physical flexibility to install a full processing plant at the Nichols Ranch ISR mine at a later date.
The Nichols Ranch ISR uranium project is licensed for a production level of up to two million pounds of uranium per year with initial production targeted for 600,000 to 800,000 pounds per year after ramp-up.
