Wyoming Invests $34 Million Uranium Mine Bonds

(Associated Press, October 25) – The state of Wyoming has invested $34 million in an in-situ uranium mine 15 miles southwest of Bairoil in Sweetwater County.

State Treasurer Mark Gordon says the state has purchased industrial revenue development bonds funding the Lost Creek In-Situ Uranium Recovery Project, operated by Ur-(you-ARE’)-Energy.

The mine already is producing uranium yellowcake. The company said this summer it had 60 employees at the mine and planned to hire more contract workers.

Gordon says he’s pleased that the mine is employing people. He says the loan passed review by the state’s Business Council and Gov. Matt Mead’s office.

Ur-Energy President and CEO Wayne Heili issued a statement this week saying it’s a testament to the viability of the Lost Creek project that it withstood state review.