Incorporated in 1977, Uranium Resources Inc. explores for, develops, and mines uranium. Since incorporation, they have produced over seven million pounds of uranium. Located in Lewisville, Texas, they currently produce uranium at a rate of 400,000 pounds annually.
Uranium Resources Inc. is part of the Industrial Metals and Minerals industry. They trade on NASDAQ and have a market capitalization of $250.02M. Their current mining methods involve in-situ recovery (ISR). In-situ mining is a noninvasive, environmentally friendly mining process involving minimal surface disturbance.
The company’s focus is to capitalize on the strong global market for uranium. They are doing this by developing their mineral resources in Texas and New Mexico. They also seek to acquire new assets, and work to develop joint ventures or partnerships to grow the company.
The company has ISR mining projects in south Texas. Their current uranium production primarily comes from their Kingsville Dome location in the state. The company continues to explore and develop uranium resources, as there is strong demand but limited suppliers worldwide. Uranium, commercially, is a fuel for nuclear power plants for the generation of electricity.
Uranium Resources Inc. owns 183,000 acres of uranium mineral holdings in New Mexico. They acquired these properties and an extensive information database over the last two decades. This information database consists of over 16,000 drill logs, mine reserve estimates, mine development plans, and mill designs.
The company hopes for great growth from their New Mexico properties. While they are not currently producing there, their goal is to produce eight million pounds of uranium annually from these assets. They will seek to achieve this goal through ISR and conventional mining and milling methods.
Uranium Resources Inc. continually looks to forge relationships with other companies to bring more uranium to market. They have a partnership at their Church Rock, New Mexico site with Itochu Corporation from Japan. Itochu is one of Japan’s largest corporations. Uranium Resources Inc. is working to evaluate and develop the mineralized uranium at Church Rock with them. To Uranium Resources Inc., work on their long-term goals in New Mexico is a priority for them and their investors.
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