Uranium One is engaged through its subsidiaries and joint ventures in uranium production, and in the exploration and development of uranium properties, in Kazakhstan, the United States, Tanzania and elsewhere. Uranium One is focused on low cost and low technical risk operations, with existing, near and medium-term production visibility in some of the world’s largest uranium resource jurisdictions.
Uranium One is a joint venture partner with JSC NAC Kazatomprom, the Kazakhstan state-owned atomic energy company, in six major producing uranium mines in Kazakhstan – Akdala, South Inkai, Karatau, Akbastau, Zarechnoye and Kharasan. The company also operates the Willow Creek uranium mine in Wyoming, and is the operator of, and owns a 13.9 percent interest in, the Mkuju River uranium development project in Tanzania.
Uranium One’s revenues are largely derived from the sale of uranium concentrates. The company sells its uranium to major nuclear utilities in Russia, Europe, North America, South America, Middle East and Asia.
The United States was the world’s leading producer of uranium from 1953 until 1980, when US production peaked at 16,810 tonnes of uranium per year. Until the early 1980s, there were active uranium mines in Arizona, Colorado, New Mexico, South Dakota, Texas, Utah, Washington and Wyoming. In 2015, the United States produced 1,281 tonnes of uranium concentrate; Wyoming accounted for 81 percent of US production. ISR mining accounted for more than 85 percent of US production in 2015.
The Willow Creek Mine is an ISR uranium mine located in Johnson and Campbell Counties in Wyoming’s Powder River Basin, approximately 105 km north of the City of Casper, Wyoming. The Willow Creek Mine includes the licensed and permitted Irigaray ISR central processing plant, the Christensen Ranch satellite ISR facility and associated uranium ore bodies. Mining operations at Willow Creek date back to the late 1970’s.
The company acquired the property in 2010 and resumed commercial production at Willow Creek in 2012. The Corporation holds an operational license issued by the U.S. Nuclear Regulatory Commission. The design capacity of the Willow Creek mine is 1.3 million lbs. U3O8 (500 tonnes uranium) per year; in 2014 – 2016, production was scaled back and well field development put on hold due to low uranium prices. In 2016, Willow Creek produced 59,900 lbs. of U3O8 (23 tonnes of uranium). In addition to the Willow Creek mine, Uranium One has a number of development and exploration projects in Wyoming’s Powder River Basin, including Ludeman, Allemand Ross, Moore Ranch and Barge, as well as in the Great Divide Basin, including Antelope and JAB. No development or exploration activities are currently being conducted on these projects and properties.
Uranium One’s Mkuju River Project, when operational, will be Tanzania’s first uranium mine. It will establish Tanzania among the top 5 producers of uranium in Africa. The Mkuju River Project is a world-class uranium development project located in southern Tanzania, about 470 kilometers southwest of Dar es Salaam. The Mkuju River Project is owned by Mantra Tanzania Ltd.
Current activity at the project is focused on preparatory operations and research work to determine applicability of the in situ recovery (ISR) method, a progressive and environmentally safe mining technology. Uranium One and Mantra are also actively partnering with the government on a technologically advanced and innovative elephant anti-poaching campaign in the area of the southern Selous Game Reserve surrounding the project site.
The Mkuju River Project marks the beginning of a long-term commitment to Tanzania and to Africa that will benefit Tanzania and its citizens by creating jobs, providing new local and regional infrastructure, supporting community projects and potentially making it a globally significant producer of uranium. In partnership with the Tanzanian government, Uranium One and Mantra look forward to making a lasting positive impact on the nation’s economy and its people.
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