Boss Energy (ASX:BOE) reveals the second ion exchange plant, within the Alta Mesa Project in Texas, is set to begin operations in the first quarter of next year.
Ion exchange is a filtration system which removes liquid uranium from groundwater before being dried and processed into uranium yellowcake (U3O8).
Boss Energy, which has a market capitalisation of $1.21 billion, says once the second plant is completed, the third ion exchange plant will be online by the end of 2025.
This news comes after enCore Energy (TSX-V:EU), which owns 70% and operates the Alta Mesa Project, reveals it has met its delivery commitments under its eighth uranium supply contract.
During the last nine months ending 30 September 2024, enCore delivered 530,000 pounds of U3O8 at an average sales price of US$84.85 ($131.62) per pound, using both purchased and processed uranium.
The company also achieved US$45 million in revenue from the sale of U3O8.
It also extracted and packaged 100,261 pounds of U3O8 combined between the two operational South Texas Central processing plants dubbed Rosita and Alta Mesa.
Concurrently, enCore delivered 56,551 pounds of U3O8 to a North American conversion facility.
The company says its outlook is “positive” with substantial and growing revenue from Alta Mesa contributing to financial results throughout the last nine months of 2024.
“The nuclear industry outlook remains positive with demand projections outpacing supply for the foreseeable future driven in part by increased electrical demand from artificial intelligence and the commitment of many sectors of the economy to achieve zero carbon,” the company says.
Boss Energy is a uranium-focused company working on restarting the Honeymoon Uranium Project in South Australia.
enCore Energy is a US clean energy company focused on providing clean, reliable, and affordable fuel for nuclear energy.
Write to Aaliyah Rogan at Mining.com.au
Images: Boss Energy
