US URANIUM | FUEL & FUEL CYCLE


Left: The US is now embarking on a substantial expansion of its uranium industry


2050. You also have this influx of AI, quantum computing and cryptocurrencies that is going to drive electricity demand further. People are starting to realise that wind and solar won’t be able to provide that reliable baseload supply with where that future is going. So, a lot of focus is coming on to uranium, because that is what drives nuclear reactors.


NEI: Eagle has been involved in the Aurora uranium project since last year. Could you talk a bit about your development plans for that project? MM: We were quite fortunate to pick up the rights to the Aurora project in Oregon, which is the largest mineable, measured and indicated uranium deposit in the US with a resource of 50.6mlb [19,500 tonnes of uranium (tU) based on 107.3 million tonnes at 214 parts per million triuranium oxcotide], according to the Australian JORC standard. Every year the US consumes 50mlb of uranium


concentrate, but in 2024, the country only produced 677,000 pounds (lb), according to the US Energy Information Administration. In 2023, it was only 50,000lb. You can see how much foreign reliance there is on uranium, so a project of Aurora’s size and magnitude is going to be critical, given the national security and energy independence views. We have a clear pathway to development for Aurora, and the administrative tailwinds are really going to be beneficial for us with this project.


NEI: What are the next steps for the Aurora project? MM: The major step we are going to be focusing on is completing the baseline studies. There is a lot that needs to be done, and we have to ensure that we get it completed on time and on budget. From there, it gives us the ability to apply for an exploration plan of operations or a mine plan of operations. Those baseline studies could take anywhere from 12 to 18 months, but that doesn’t stop the work on the project either. We can charge forward with our detailed engineering studies, such as a pre-feasibility study, which we plan to commence in 2026. [The pre-feasibility study would be followed by a definitive


feasibility study with completion anticipated in late 2028, according to a recent company presentation.]


NEI: What are the main barriers to producing uranium in the US and how are you navigating those challenges? MM: I would say the biggest barrier for uranium producers in the US will always come down to the permitting; it is a long process to get mines permitted. But we are hoping that the administrative push with these executive orders that we have seen around boosting critical mineral supply and decreasing foreign reliance on importing uranium from regions such as Russia and Kazakhstan will change that. As a mining company, we still have to make sure we do


things the right way. We are very focused on making sure we have all of those baseline studies and environmental assessments completed, but we want to see this mine come into production someday as well.


NEI: Can you tell us how some of the recent policy decisions or federal initiatives have impacted your company’s plans? MM: We are starting to see mining projects go on to the FAST-41 dashboard [FAST-41 is a federal infrastructure permitting initiative established under Title 41 of the Fixing America’s Surface Transportation Act]. There was an executive order to boost US mineral


production [in March], and a part of that was to identify projects that end up on a dashboard, which leads to increased transparency and faster timelines. We have seen two other projects in our same county [the McDermitt lithium exploration project (Jindalee Lithium) and the Grassy Mountain gold project (Paramount Gold Nevada)] identified on this list. We believe that once we get our baseline studies


completed and our permits in, [the Aurora project] will be identified on these dashboards, given the importance of uranium to the US. [Other uranium projects included on the FAST-41 list include Laramide Resources’ La Jara Mesa and Churchrock projects and Uraniun Energy’s Sweetwater Uranium Complex]


NEI: Do you believe more needs to be done to support domestic uranium producers? MM: I think more needs to be done [considering] how important nuclear energy is going to be and just how much [the US] is relying on foreign nations to get uranium.


www.neimagazine.com | October 2025 | 23


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