Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a prominent U.S. producer of uranium and rare earth elements, announced that its Pinyon Plain uranium mine in Arizona has significantly exceeded production expectations in the second quarter of 2025. The mine produced an impressive 230,661 pounds of U₃O₈ in June alone, contributing to a quarterly total of 638,700 pounds. The average grade for June was 3.51% U₃O₈, with the quarter averaging 2.23%. Mark S. Chalmers, the CEO of Energy Fuels, praised the Pinyon Plain mine, stating it is likely to be one of the highest-grade uranium deposits mined in U.S. history.
In the second quarter, Energy Fuels sold 50,000 pounds of uranium on the spot market at an average price of $77 per pound. The company anticipates selling 140,000 pounds in the third quarter and 160,000 pounds in the fourth quarter under long-term contracts. Looking ahead to 2026, Energy Fuels projects sales between 620,000 and 880,000 pounds, indicating a strong outlook for uranium production and sales.
This announcement is significant as it underscores the growing importance of uranium production in the U.S. for nuclear energy, which is a key component of the country’s strategy to reduce carbon emissions. The performance of the Pinyon Plain mine not only demonstrates Energy Fuels’ capability to meet and exceed production targets but also highlights the potential of U.S. uranium deposits to contribute significantly to the global nuclear energy market. For more information, visit https://ibn.fm/lkpYR.
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