US fast tracks enCore’s Burdock uranium project

EnCore Energy’s (NASDAQ: EU; TSXV: EU) Dewey Burdock uranium project in South Dakota has been approved for the Fast-41 program by federal officials to reduce permitting time.

Dewey Burdock, the first critical minerals project in South Dakota to be added to the federal fast-track system, is to use in-situ recovery (ISR) to tap an estimated 17.1 million measured and indicated lb. of  uranium at an average grade of 0.12% uranium oxide (U₃O₈) with an additional 712,600 inferred lb. at 0.06% U₃O₈.

EnCore, currently the only uranium producer in the United States, plans to recover uranium from subsurface sandstone ore bodies at the site in Custer and Fall River counties.

The Fast Track 41 program, part of the implementation of President Trump’s Executive Order on Immediate Measures to Increase American Mineral Production, is overseen by the Federal Permitting Improvement Steering Council. The council identifies priority infrastructure and critical minerals projects to receive accelerated permitting review. Alaska just improved cooperation for fast-tracking projects.

Rosita plant

The company also operates its Rosita central processing plant (CPP) in South Texas as well as the Alta Mesa CPP in a joint venture with Boss Energy (ASX: BOE).

The ISR method employs a chemical-free, water-based solution in the wellfield to dissolve uranium minerals underground, before pumping the uranium-bearing solution to a central processing plant for recovery. Compared to conventional open-pit or underground mining, ISR significantly reduces surface disturbance.

Shares of enCore slipped 3.7% by mid-Tuesday in Toronto to C$3.16 apiece, valuing the company at C$587 million ($426 million).