The company, which acquired the mine from Titan Uranium, is currently seeking state and federal approval for the mine operations.
Energy Fuels spokesman Curtis Moore affirmed that the schedule is realistic, according to billingsgazette.com.
The company is currently working on the permits and regulations, added Moore.
The mine is projected to have a life of 15 years and produce 1.5 million pounds of uranium every year with additional 35 year life to run an on-site production plant.
Meanwhile, the company estimates initial investment costs of $60m to commence construction. The company plans to hire about 110 to build the processing plant.It will also need 40 workers to construct the open pit and another 50 to work on the underground mine. The construction projects will be handled in phases.
