Uranium Energy Ignites First New US Uranium Mine in Over a Decade

Uranium Energy Corp. has commenced production at its Burke Hollow project in South Texas, marking the first new in-situ recovery uranium mine to come online in the United States in more than ten years. This operational milestone transforms the company into a dual-mine producer at a time of significant structural tailwinds for the nuclear fuel sector.

The Texas Commission on Environmental Quality granted the final permit for Burke Hollow. Uranium extracted from the site will be processed at the company’s central Hobson plant, which is licensed to handle up to four million pounds annually. This facility acts as a hub for multiple satellite projects within the Texas Uranium Belt. The Burke Hollow project area spans approximately 20,000 acres, with an estimated resource of over eleven million pounds of uranium oxide identified to date despite only half the territory being fully explored.

This Texas operation joins the already active Christensen Ranch facility in Wyoming, which restarted production in 2024. Together, these two platforms give Uranium Energy a licensed annual production capacity of twelve million pounds. The company is further advancing a domestic refinery project, aiming to establish a fully integrated US supply chain from extraction to finished product.

Should investors sell immediately? Or is it worth buying Uranium Energy?

A key element of Uranium Energy’s strategy is its unhedged sales approach. The company sells its uranium directly at prevailing spot prices, forgoing long-term fixed contracts. This was demonstrated in early 2026 when it sold 200,000 pounds at $101 per pound, generating over $20 million in revenue and roughly $10 million in gross profit. The current market environment supports this tactic, with uranium futures recently trading around $85 per pound, a gain of nearly 33 percent year-over-year.

The company is positioned as a direct beneficiary of broader market forces. Global utilities are actively seeking long-term supply contracts to fuel existing and new reactors, creating sustained demand. This dynamic was reinforced in November 2025 when the US government officially classified uranium as a critical mineral. With its production now live, Uranium Energy is planning its next expansion phase, targeting the development of its Ludeman project in Wyoming by 2027.

Investors have taken note of the operational progress. The stock has gained almost 23 percent over the past 30 days, recently trading at €12.86, well above its 200-day moving average. From a 52-week low of €4.22, the share price has more than tripled, though it remains below a January peak of €16.89.