enCore Energy Corp. (NYSE:EU; TSXV:EU) has started uranium production from the South Texas Rosita Uranium Central Processing Plant.
According to the company, the restart of the previously producing Rosita facility is the first step in enCore’s South Texas production pipeline strategy utilizing the In-Situ Recovery production process.
The company is anticipating its first shipment of yellowcake (uranium) to occur over the course of the next 45 to 60 days.
“We are honored to be both the first uranium producer in Texas in 10 years and the newest uranium producer in the United States. We continue to push for our 2nd uranium processing plant, the Alta Mesa CPP, to commence production in early 2024,” said CEO Paul Goranson. enCore acquired the Alta Mesa project from Energy Fuels Inc in February.
The Rosita CPP, located approximately 60 miles from Corpus Christi, Texas, is a licensed, has a capacity of 800,000 pounds of U3O8 per year and the ability to expand capacity within the existing license.
Located in the Texas Uranium Belt, the Rosita CPP and Wellfield lie within over 2,700 acres of mineral rights.
Shares of enCore rose 3.8% by 12:10 p.m. EDT. The lithium developer has a market capitalization of $608 million.
