Wedoany.com Report-Aug. 10, Uranium Energy Corp (UEC) has announced that its Sweetwater Uranium Complex in Wyoming has been designated for fast-tracked permitting by the U.S. Federal Permitting Improvement Steering Council. This move follows a presidential Executive Order issued in March 2024, which directs federal agencies to expedite permitting for selected infrastructure and critical mineral projects. The Sweetwater project has been added to the FAST-41 transparency dashboard, a federal initiative designed to streamline the review process under the Fixing America's Surface Transportation Act.

Amir Adnani, President and CEO of UEC, stated: “Sweetwater's selection reinforces its national importance as a key project to achieve the United States' goals of establishing reliable infrastructure, supporting nuclear fuel independence.” He also noted that the facility will become UEC’s third “hub-and-spoke” production platform. “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,” Adnani added.

The Sweetwater Complex includes the Sweetwater Processing Plant, a fully licensed uranium mill with a permitted capacity of 3,000 tonnes per day. With the new initiative, the facility is expected to reach a licensed production capacity of 4.1 million pounds of U3O8 annually, making it the largest licensed uranium production facility in the U.S. with dual-feed processing capabilities.

In parallel, the U.S. Energy Information Administration (EIA) has reported a substantial increase in domestic uranium production and employment for 2024. According to the Domestic Uranium Production Report released on August 5, the U.S. produced 677,000 pounds of U3O8 in 2024, up from 50,000 pounds in 2023. This marks a significant year-on-year increase.

Exploration and development activities also expanded. In 2024, 1,324 exploration holes totaling 613,000 feet were drilled, compared to 877 holes and 512,000 feet in 2023. Development drilling reached 2,462 holes and 1,260,000 feet, up from 1,053 holes and 556,000 feet the previous year. The EIA stated that 2023 had already marked the highest activity levels in exploration and development since 2013.

At the end of 2024, several uranium facilities were active. While the Shootaring Canyon Uranium Mill and the Sweetwater Processing Plant remained on standby, the White Mesa Mill in Utah began operations using alternative feed. ISR projects, including the Alta Mesa, Rosita, Lost Creek, Smith Ranch-Highland, Ross Central Processing, and Willow Creek sites, were operational, with a combined capacity of 14.1 million pounds of U3O8 per year—nearly double the 2023 capacity of 7.5 million pounds.

Employment in the U.S. uranium industry reached 506 full-time person-years in 2024, up from 340 in 2023, the highest level since 2016. Total expenditures for land, exploration, drilling, production, and reclamation reached USD 160 million, compared to USD 107.4 million in 2023—also the highest since 2016.

The EIA, a statistical agency under the U.S. Department of Energy, noted that these figures indicate a strong resurgence in the U.S. uranium sector, supported by increased federal focus and industry investment.