Uranium Energy is engaged in uranium mining and related activities, including exploration, pre-extraction, extraction and processing, on uranium projects located in the United States and Paraguay. The company utilizes in-situ recovery (ISR) mining, which involves circulating oxidized water through an underground uranium deposit, dissolving the uranium and then pumping the uranium-rich solution to the surface for processing. The company has one uranium mine located in the State of Texas, the Palangana Mine, which utilizes ISR mining and has commenced extraction of uranium oxide, or yellowcake. The company has one uranium processing facility located in the State of Texas, the Hobson Processing Facility.
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