Uranium Energy adds second ISR operation with Burke Hollow start

Uranium Energy Corp (NYSE-A: UEC) says it has officially turned on the taps at its Burke Hollow project in Texas, marking the start of the first US in-situ recovery (ISR) operation in over a decade.

The production start follows approval from the Texas Commission on Environmental Quality (TCEQ) for the ISR project, which UEC has been developing since its initial grassroots discovery in 2012.

With this milestone, the Vancouver-based company becomes the only US uranium producer with two active ISR operations. Its first was the Christensen Ranch project in Wyoming, which began production in 2024 and was recently approved for an expanded capacity.

A third ISR operation is also being planned at Ludeman, which UEC expects to come online next year.

Largest greenfield ISR project

The start of Burke Hollow, said UEC chief executive, Amir Adnani, is part of the company’s strategy of building a “scalable, multi-faceted platform supported by the largest uranium resource base in the United States.”

According to company website, Burke Hollow has the largest ISR wellfield in the US, tapping into a uranium resource (measured and indicated) that exceeds 6.15 million lb. Only about half of the 20,000-acre property has been explored to date, indicating additional resource potential, UEC said.

As with its other projects across the Texas Uranium Belt, material extracted from Burke Hollow would be transported to the Hobson Central Processing Plant (CPP) for final processing into “yellowcake” products. The facility, which UEC plans to use as the processing hub for five satellite deposits in the region, is currently licensed to produce up to 4 million lb. of uranium annually.

“UEC’s recent production achievements in Texas and Wyoming highlight the importance of uranium production as the foundation of a secure, domestic nuclear fuel cycle,” US Energy Secretary Chris Wright commented in a statement on Wednesday.

Shares of UEC surged as much as 9% on the production milestone, taking its market capitalization to $7 billion in New York.