What Ur-energy does

Ur-Energy is a U.S.-domiciled uranium mining company that produces uranium concentrate (U3O8, or yellowcake) using in-situ recovery (ISR) technology at two operational facilities in Wyoming: the flagship Lost Creek mine, which has been in continuous production since 2013, and the Shirley Basin project, which commenced initial operations in April 2026. The company sells uranium concentrate directly to nuclear utilities and fuel-cycle companies under multi-year contracts and spot market agreements. Its combined annual licensed production and toll processing capacity is 4.2 million pounds U3O8, backed by approximately 21.0 million pounds of Measured and Indicated mineral resources across all properties.

Ur-Energy's ISR methodology involves injecting oxygenated groundwater into uranium-bearing ore bodies to dissolve uranium minerals in place, then pumping the uranium-bearing solution to the surface for capture on ion-exchange resin. Resin from both Shirley Basin and Lost Creek is transported to the Lost Creek processing facility for final recovery, drying, and packaging into yellowcake. The company has produced more than 3.5 million pounds U3O8 cumulatively at Lost Creek since 2013, reaching its 100th commercial shipment milestone in June 2026. Q1 2026 production at Lost Creek increased 41% sequentially over Q4 2025 to 110,314 pounds captured, with cash costs of $37.51 per pound (down 13% quarter-over-quarter).

Ur-Energy earns revenue primarily through contracted and spot sales of U3O8 to U.S. and international nuclear utilities and conversion facilities, with multi-year offtake agreements in place covering 800,000 to 1,400,000 pounds annually from 2026 through 2030 under base-escalated and market-based pricing. FY2025 revenue was $27.2 million at an average sales price of $70.98 per pound in Q1 2026, down from $33.7 million in FY2024 due to ramp-up timing of contracted deliveries. The company is publicly traded on NYSE American (URG) and TSX (URE) with a market capitalization of approximately C$838 million (April 2026), $122.8 million of unrestricted cash, $120 million of 4.75% convertible senior notes due 2031, and an at-the-market share program with capacity of up to $50 million executed through B. Riley Securities and Cantor Fitzgerald.

Name

Ur-energy

Legal name

Ur-Energy Inc.

Website

https://ur-energy.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Ur-Energy is a U.S. uranium mining company operating in-situ recovery (ISR) facilities at Lost Creek and Shirley Basin in Wyoming, producing uranium concentrate for nuclear utilities and fuel cycle companies under multi-year contracts.

Ownership category

akta.pro rank

Product category

Uranium Mining and Production

NAICS

Oil and Gas Extraction (211)

SIC

Metal Mining (1000)

akta.pro primary industry

Uranium Mining & Milling (Yellowcake/U3O8 Production) (EUAKACAB)

akta.pro secondary industry

Uranium Exploration & Resource Development (EUAKACAA)

Keywords

• In-situ recovery mining
• Uranium concentrate production
• Nuclear fuel supply
• ISR uranium facilities
• Yellowcake processing

Headquarters

HQ city

Littleton

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Uranium Concentrate Sales: Ur-Energy generates revenue through the sale of uranium concentrate (yellowcake/U3O8) produced at its Lost Creek and Shirley Basin ISR facilities. Sales are made under long-term contracts with nuclear utilities and on the spot market. The company sold 55,000 pounds at $70.98/lb in Q1 2026, generating $3.9 million in revenue.
2. Contracted Sales: Multi-year sales agreements covering 800,000 to 1,400,000 pounds annually from 2026 through 2030, providing revenue visibility and price certainty through a mix of base-escalated and market-based pricing.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Ur-Energy is a uranium mining company engaged in in-situ recovery (ISR) uranium production at its Lost Creek and Shirley Basin facilities in Wyoming, producing uranium concentrate (yellowcake/U3O8) for sale to nuclear utilities and fuel cycle conversion companies. The company uses ISR methods that inject oxygenated groundwater to dissolve uranium in place, capture it on ion exchange resin, and process it into yellowcake at the Lost Creek facility for delivery under long-term contracts and spot market transactions.

Product overview

Ur-Energy is a uranium mining company with a portfolio of in-situ recovery (ISR) operations and exploration projects. The company operates two primary ISR facilities: the Lost Creek ISR Facility (flagship, operational since 2013) and the Shirley Basin ISR Project (initiated operations in April 2026). Combined annual licensed production and toll processing capacity is 4.2 million pounds U₃O₈. The company also maintains several exploration projects including Lost Soldier, North Hadsell, Lucky Mc Mine Site in Wyoming, and the Excel gold project in Nevada. The Lost Creek and Shirley Basin facilities are integrated operations where uranium is captured on ion exchange resin at Shirley Basin and transported to Lost Creek for final processing, drying, and packaging.

Differentiator

Problem solved

Functional benefit

Products and services

• Lost Creek ISR Facility Ur-Energy's flagship in-situ recovery (ISR) uranium facility in south-central Wyoming's Great Divide Basin, producing uranium concentrate (yellowcake/U3O8) since 2013 with cumulative production of more than 3.5 million pounds and licensed capacity of 2.2 million pounds annually, serving nuclear utilities and conversion facilities.
• Shirley Basin ISR Project Ur-Energy's second in-situ recovery uranium facility in central Wyoming with licensed annual capacity of 2.0 million pounds of U3O8 and approximately 9.1 million pounds of measured and indicated mineral resources, returning a historic ISR district to active operations and supplying uranium concentrate to nuclear utilities.
• Lost Soldier Project Exploration project located near the operating Lost Creek Mine in Wyoming's Great Divide Basin, approximately 17 road miles from the Lost Creek plant, with approximately 4,000 historic drill holes indicating potential as a satellite uranium operation.
• North Hadsell Project Exploration project near Lost Creek Mine in Wyoming with 13 ore grade intercepts and a stacked roll-front system with up to eight individual roll fronts at ISR-amenable depths of about 300 to 800 feet.
• Lucky Mc Mine Site Historic uranium mine site in the Gas Hills Mine District in Wyoming, part of Ur-Energy's portfolio of other U.S. uranium projects.
• Excel Project Ur-Energy's first gold exploration project located in Nevada, expanding the company's mineral portfolio beyond uranium.

Quantifiable outcome

• Produced over 3.5 million pounds U3O8 since 2013 with 100th shipment milestone
• +4 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered minor and core.

• American Rare Earths Limited (ASX: ARR)minorStrategic or Co-development Partner · 24 June 2026Matthew D. Gili, President & CEO of Ur-Energy, appointed as Non-Executive Director of American Rare Earths pending Australian regulatory approval. Gili brings 25+ years of mining experience including direct operational expertise in Wyoming's uranium ISR facilities applicable to rare earth extraction at Halleck Creek Project.
• Pathfinder Mines CorporationcoreStrategic or Co-development Partner · 3 February 2026Ur-Energy acquired Pathfinder Mines Corporation in 2013, which included the Shirley Basin property. Noble Plains Uranium acquired historical drill data from Pathfinder covering 1,211 drill holes for its Shirley Central Project, valued at over US$6 million to replicate, with Ur-Energy becoming a shareholder of Noble Plains.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Energy Fuels Inc. U.S.-based uranium and rare earths producer operating conventional and ISR mines in the western U.S., including the Alta Mesa and Sheep Mountain projects. Directly comparable to Ur-Energy as a U.S. uranium concentrate producer pursuing diversification into critical minerals.
• Uranium Energy Corp: U.S.-focused ISR uranium producer with operations and development projects in Wyoming, Texas, and New Mexico. Closest direct competitor to Ur-Energy in U.S. ISR uranium mining, sharing technology, regulatory framework, and target customer base (nuclear utilities).
• enCore Energy Corp. U.S. ISR uranium producer with operating and near-term production assets in Texas, New Mexico, and Wyoming (including the Dewey Burdock project). Direct peer leveraging the same ISR technology stack and yellowcake product for utility customers.
• Peninsula Energy: ASX-listed ISR uranium producer operating the Lance Project in Wyoming, with a transition from conventional to ISR operations comparable to Ur-Energy's profile. Directly comparable in technology, geography, and product offering.
• Denison Mines Corp. Canadian uranium developer and ISR operator with the Wheeler River and McClean Lake projects in the Athabasca Basin. Comparable in ISR uranium technology deployment and uranium concentrate sales to utilities, though geographically focused in Canada.
• Paladin Energy Ltd. ASX-listed uranium producer restarting the Langer Heinrich mine in Namibia, with a focus on long-term contracts to Western utilities. Comparable uranium pure-play with multi-asset ambitions similar to Ur-Energy's two-facility Wyoming strategy.
• Boss Energy Ltd. ASX-listed uranium producer restarted the Honeymoon ISR mine in South Australia. Operates the same ISR-plus-ion-exchange production method as Ur-Energy with multi-year utility contracts offtaking production.

Broad incumbents

• Cameco Corporation: The world's largest publicly traded uranium producer, operating high-grade conventional mines in Canada and Kazakhstan as well as fuel fabrication and conversion services. Comparable as the dominant U.S./Western utility supplier that Ur-Energy competes against for long-term contracts.
• Kazatomprom: National uranium producer of Kazakhstan and the world's largest uranium miner by volume, using ISR technology at scale. Provides the benchmark production cost and global pricing reference against which Ur-Energy's U.S.-domestic production must compete.

Emerging players

• NexGen Energy Ltd. Canadian uranium developer advancing the Rook I/Arrow project in the Athabasca Basin toward production. Comparable as a uranium-focused company targeting long-term utility offtake, though earlier-stage than Ur-Energy with no current production.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/ur_energy

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ur-energy