Uranium Energy Corp. unveiled the United States Uranium Refining & Conversion Corp. in order to advance American nuclear fuel security and energy dominance ("UR&C"). This initiative is made to form a wholly owned subsidiary of the company and to pursue the feasibility of developing a new state-of-the-art American uranium refining and conversion facility.
UEC is the largest U.S. uranium company with licensed production and processing capacity. UR&C will position UEC as the only American company with a nuclear fuel supply chain capability from U₃O₈ production to refining, conversion, and delivery of natural UF₆ to enrichment plants for LEU and HALEU production.
This significant move responds to federal policy under President Trump's recent Executive Orders that call for a fourfold expansion of U.S. nuclear capacity to 400 gigawatts by 2050 and reduced reliance on foreign sources of uranium. The orders include invoking the DPA to onshore the nuclear fuel cycle as a priority for national security, with multiple agencies required to support the objectives. Further, the proposed facility is the result of work initiated with Fluor Corporation in July 2024 as well as is supported by a recently completed AACE Class 5 conceptual study.
Executive Statement
According to Amir Adnani, UEC President and CEO, positioning UEC as the only vertically integrated U.S. company with uranium mining, processing, refining, and conversion capabilities is both a significant commercial opportunity and a strategic necessity for the United States. Under one American banner, UEC's end-to-end capabilities would provide a secure, geopolitically reliable source of Uranium Hexafluoride ("UF₆"), the critical feedstock for enrichment that enables the production of low-enriched uranium ("LEU") and high-assay low-enriched uranium ("HALEU"), fuels essential to powering large, small, and advanced reactors for undersupplied domestic and allied markets.