Wedoany.com Report-Aug. 7, Uranium Energy Corporation’s (UEC) Sweetwater Uranium Complex in Wyoming has been selected by the U.S. Federal Permitting Improvement Steering Council for fast-track permitting. This designation, part of an Executive Order initiative, aims to accelerate the federal permitting process for critical mineral projects in support of domestic production goals.

Uranium Energy’s primary goal with this fast-tracking is to implement ISR mining within the current mine permit boundary.

The Sweetwater project is expected to benefit from expedited regulatory approvals, enabling the implementation of in-situ recovery (ISR) mining within the existing mine permit area. Additionally, UEC plans to expand operations to include adjacent ISR-suitable deposits on federally managed lands. The Bureau of Land Management, under the Department of the Interior, has been designated as the lead agency for federal permitting oversight.

UEC President and CEO Amir Adnani stated: “Sweetwater’s selection under FAST-41 reinforces its national importance as a key project to achieve the United States’ goals of establishing reliable infrastructure, supporting nuclear fuel independence. Acquired from Rio Tinto in 2024, Sweetwater will be UEC’s third hub-and-spoke production platform, following operational advancements under way in Wyoming’s Powder River Basin and South Texas. On completing this tack-on permitting initiative, Sweetwater will be the largest dual-feed uranium facility in the United States, licensed to process both conventional ore and ISR resin.”

A central feature of the complex, the Sweetwater Processing Plant, is a licensed conventional uranium mill with a capacity of 3,000 tonnes per day. Once the ISR permitting process is completed, the site will become the largest licensed uranium production facility in the country, with a dual-feed design and an annual licensed capacity of 4.1 million pounds of triuranium octoxide.

In December 2024, Uranium Energy completed the acquisition of Rio Tinto’s Wyoming-based uranium assets, including the Sweetwater plant and associated mining properties. The transaction, valued at $175.4 million, was financed through UEC’s available liquidity. The company engaged Goldman Sachs & Co. and Rothschild & Co. as financial advisors and received legal counsel from Holland & Hart and McMillan.

The fast-tracking of Sweetwater is aligned with broader federal goals to strengthen the domestic supply chain for critical minerals, including uranium. The project's expansion and the adoption of ISR mining methods are expected to enhance the U.S. nuclear fuel infrastructure and support long-term energy strategy objectives.