In the latest shows of federal support for domestic uranium production, Sweetwater Uranium Complex in Uranium Energy (UEC) Vyoming is nominated for early permission under the fast -41 initiative of the Trump administration.
The designation, declared on August 5, puts Sweetwatter on Fast -41 dashboard of Federal Reviditing Improvement Steering Council, a step aimed at intensifying environmental reviews and resistance approval under a structure set up by the Surface Transportation (FAST) of the US.
The initiative is part of the Trump administration’s strategy to revive the US nuclear fuel supply chain and reduce dependence on imports from geopolitical rivals.
UEC President and CEO Amir Adnani said in a statement, “Selection of Sweetwater under Fast -41 confirms its national importance as a major project to achieve the targets of the establishment of the United States of America, supporting atomic fuel freedom as a major project to achieve the goals.”
“On completion of this tax-on permission initiative, Sweetwater will be the largest dual-feed uranium feature in the United States, licensed to process both traditional ore and ISR resin.”
Located in the Great Divide Basin of Vyoming, the Sweetwater Complex is fully anchored by a fully licensed traditional uranium mill with a licensed annual production of 3,000 metric tonnes per day and 4.1 million pounds.
The site included several permissible mines-seatwater (red desert), Big Eagle, and Jackpot (Green Mountain)-were approved for traditional methods, but now in-Seitu recovery (ISR) mining, a low impact will be evaluated for a low impact extraction technique.
The newly allowed push will allow the UEC to modify the existing approval to modify the current approval, which is both within and beyond the current mine range, including the adjacent federal land managed by the Bureau of Land Management (BLM).
BLM under the Interior Department is the major permission agency for the initiative.
“This would provide the company unmatched flexibility to score production in the Great Divide Basin, taking advantage of the UEC major domestic resource base,” said Adenani.
Sweetwater is the second uranium project to obtain fast-track treatment under the new policy, Anifield Energy in Uuta: AEC, OTCQB: Andf) after the Velvet-Wood Project, which was given the position in May.
Velvet -Wood Fast -41 was the first uranium property to be placed on the dashboard. It is expected to supply uranium for both civil nuclear power and defense applications as well as a strategic metal used in vanadiums, batteries and alloys.
As part of the January 20 announcement by President Trump, the velvet-wood of Enfield received a quick environmental review, cited a national energy emergency and called for immediate steps to restore American energy freedom. According to Enfield, the review timeline was cut off, which could only be up to 14 days.
Together, two fast-track uranium projects are a wide federal axis in the direction of reconstruction of a domestic nuclear supply chain, withering between Russia, China and other state-backed producers in recent decades between low prices and competition.
Emily Domenech, Executive Director of the Federal Permission Reform Steering Council, said, “I am excited to welcome the Sweetwater Complex for Fast -41 Transparency Dashboard in support of President Trump’s target of unlocination of US mineral resources.”
The White House confirmed in April that 10 mining projects were so far selected under the initiative, covering minerals such as copper, gold, lithium, phosphate, potash and uranium.
With Sweetwater, the UEC will operate three hub-end-spoke uranium platforms in the United States: one in South Texas, Vyoming’s powder in the river basin, and the second in the Great divide basin.
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Securities disclosure: I, Giann Liguid, no direct investment in any company mentioned in this article is interested.