Urenco USA announced a multi-billion-dollar investment to expand its New Mexico enrichment facility. The site is currently the only commercial-scale uranium enrichment plant in the U.S. This expansion will increase the plant's capacity by nearly 50%.
The project adds 2.1 million Separative Work Units (SWU) to existing operations. Construction is scheduled to begin in 2029. The first new production lines will start in 2032. Full implementation will continue through 2036.
The move aims to bolster the U.S. nuclear fuel supply chain and reduce reliance on Russian sources. This development intensifies competition for Centrus Energy (LEU), the only U.S.-owned enrichment entity. The announcement boosted uranium mining stocks but presents a direct challenge to Centrus's market position. Both companies remain pivotal for the supply of enriched uranium to existing and advanced reactors.