CASPER, Wyoming — A new uranium mine north of Rawlins has shipped its first batch of yellowcake.
Yellowcake is a precursor form of the enriched uranium that fuels nuclear power plants. Ur-Energy's (YOU-are) Lost Creek facility shipped 35,000 pounds of yellowcake to a plant in Illinois this week.
Ur-Energy expects to begin shipping two to four truckloads a month soon. Each truckload weighs 35,000 pounds.
The Casper Star-Tribune reports (http://bit.ly/1hCuXod) between one-third and one-half of the production at Lost Creek will be sold through long-term deals. Long-term contracts for yellowcake are averaging $50 per pound.
The in-situ mine produces uranium by dissolving uranium-bearing deposits underground. Water carrying dissolved uranium is then pumped to the surface and processed into yellowcake.
The mine began drying recovered uranium in October.
Information from: Casper (Wyo.) Star-Tribune, http://www.trib.com