U.S. electricity demand is rising due to AI data centers, highlighting a need for secure domestic uranium supply. Eagle Energy Metals plans a drilling campaign at the Aurora Uranium Project, positioning for a NASDAQ listing. Big Tech firms are driving the global Small Modular Reactor sector to a projected $10.3 billion by 2032.
Uranium Energy Corp reports low-cost production and launches United States Uranium Refining & Conversion Corp. NexGen Energy hits high-grade uranium at Patterson Corridor East, aiming to become the largest low-cost uranium mine globally. Denison Mines announces grid power availability at the Phoenix uranium mine site. Denison Mines reaches a milestone with the installation of a new high-voltage transmission line, providing grid power to the site. The 6km line connects Phoenix to the existing 138kV line near Highway 914, ensuring a reliable and cost-effective power supply for construction and future operations.
Energy Fuels Inc. exceeds 2025 guidance for uranium production, with over 1.6 million pounds produced. The company’s Pinyon Plain Mine and La Sal Complex contribute to this success, reinforcing Energy Fuels as a top uranium producer. Plans include selling 360,000 pounds of U₃O₈ in Q4-2025 at an average price of $74.93 per pound.
The availability of grid power at Denison Mines’ site represents a major milestone for the Project. Energy Fuels Inc. boasts a strong reputation as the lowest-cost uranium producer in the country, exceeding production guidance for 2025. The company anticipates further growth in sales volumes and has secured new long-term contracts with U.S. nuclear power companies.
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Sources:
1. https://www.eia.gov/outlooks/steo/pdf/steo_full.pdf
2. https://www.nucnet.org/news/us-nuclear-generators-import-nearly-all-the-uranium-concentrate-they-use-data-shows-2-1-2025
3. https://www.openpr.com/news/4343672/small-modular-reactor-market-projected-to-hit-us-10-3-billion
4. https://www.energy.gov/articles/promises-made-promises-kept
Read more at GlobeNewswire: Why Big Tech is Fueling a U.S.