Australian-based Peninsula Energy Ltd. is ramping up its uranium production efforts in northeastern Wyoming to meet the growing demand for nuclear fuel worldwide. The company has started construction on a central processing plant at its Ross facility to process uranium from its mines in the region and produce yellowcake, an essential ingredient for nuclear reactors.
The expansion of estimates for uranium deposits in Peninsula’s Lance project near Gillette and nearby Ross and Kendrick mines shows a promising outlook for the company’s fuel supply chain. Peninsula’s managing director and CEO, Wayne Heili, highlighted the resource growth and the company’s preparations for the resumption of commercial production at its U.S.-based projects.
With the recent ban on Russian uranium imports in response to the conflict in Ukraine, demand for domestic nuclear fuel in the United States has surged. This has prompted several uranium mining companies in Wyoming to restart production and expand their operations.
Peninsula’s strategic move to double the capacity at its Ross processing plant and secure long-term sales agreements with European buyers demonstrates its commitment to meeting the increased demand for uranium. The company’s plans to convert mined uranium into yellowcake at the Ross facility align with the global push for sustainable nuclear energy solutions.
As Peninsula continues its expansion and production targets for 2025, the Ross central processing facility serves as a crucial component of the company’s supply chain in Wyoming. By investing in infrastructure and partnerships to strengthen its presence in the uranium market, Peninsula is positioned to play a significant role in meeting the world’s nuclear fuel needs.
