Uranerz Energy Corporation (TSX:URZ) Chairman, Dennis Higgs, spoke to Resource Investing News at the Vancouver Resource Investment Conference about getting ready for mining in 2014 in the Powder River Basin of Wyoming, USA. The Company expects to start production at the Nichols Ranch ISR Uranium Project in the first quarter of 2014. Three contracts are already in place, which are at much higher uranium pricing than the current spot price.
Uranerz Energy Corporation is a U.S.-based uranium company. The Nichols Ranch ISR Uranium Project is Uranerz’ first ISR mine. ISR, or in-situ recovery, is a mining process that uses a leaching solution to extract uranium from sandstone uranium deposits; it is the generally accepted extraction technology used in the Powder River Basin area of Wyoming. Uranerz controls a large strategic land position in the central Powder River Basin. The Company’s management team has specialized expertise in the ISR uranium mining method and a record of licensing, constructing, and operating ISR uranium projects. The Company has entered into long-term uranium sales contracts for a portion of its planned production with Exelon and one other of the largest nuclear utilities in the country.