The Uranium (Nuclear and REE) Committee of the Energy Mineral Division of the AAPG reports in their Annual Report that ...
1. Uranium price is currently about $28.00 per pound U3O8 , which is the lowest price in 10 years, but the long-term contract price has not changed since July, 2015, at $40.00 per pound U3O8.
2. Uranium price is expected to rise starting during the 4th Quarter, 2016 to about $40.00 per pound U3O8.
3. Total U.S. production for 2015 was 3.3 million pounds U3O8, 32% lower than 2014, the
lowest production since 2005.
4. Arizona, New Mexico, Colorado, and Alaska all have uranium deposits that are being
investigated and may be mineable.
5. Total U.S. uranium drilling in 2015 amounted to 13% less than in 2014.
6. Uranium is produced by open-pit and underground methods (42%), 51% by in-situ mining
method, and 7% recovered as byproduct.
7. Wyoming uranium mines are preparing for the price rise by producing and storing
yellowcake, the Powder River Basin having 12 mines in various stages of production, 7 of which are currently operating.
8. South Dakota and Nebraska have a mine each that are ready for production.
9. Texas has 3 in-situ mines, with others being permitted.
10. Increased mergers and acquisitions have been underway over the past few years in the U.S. and elsewhere.
11. Uranium One has generally divested its holdings of U.S. uranium properties, but has
maintained royalties in some cases.
12. U.S. production of uranium for the 1st Quarter, 2016 was up 0.4% from 4th Quarter, 2015 but down 46% from 1st Quarter, 2015, all to be expected because of low uranium prices.
13. U.S. uranium was produced during the 1st Quarter, 2016 at 6 facilities, 2 more than 4th Quarter, 2015 in Utah, Wyoming, and in Colorado (start-up planning).
14. By the end of 2015, other than those in production in the U.S., one mine was on standby, one in development, 6 under permitting and licensing, one under construction, and 3 in restoration.