to Dig InSmith Ranch-Highland
We operate Smith Ranch and Highland as a combined operation. Each has its own processing facility, but the Smith Ranch central plant currently processes all the uranium, including uranium from satellite facilities. The Highland plant is currently idle. Together, they form the largest uranium production facility in the United States.
| Location | Wyoming, US |
| Ownership | 100% |
| End product | Uranium concentrates |
| ISO certification | ISO 14001 certified |
| Estimated reserves |
Smith Ranch-Highland: 5.2 million pounds (proven and probable), average grade U3O8: 0.09% North Butte-Brown Ranch: 3.8 million pounds (proven and probable), average grade U3O8: 0.08% |
| Estimated resources |
Smith Ranch-Highland: 21.8 million pounds (measured and indicated), average grade U3O8: 0.06% 7.9 million pounds (inferred), average grade U3O8: 0.05% North Butte-Brown Ranch: 10.8 million pounds (measured and indicated), average grade U3O8: 0.07% 0.8 million pounds (inferred), average grade U3O8: 0.06% |
| Mining methods | In situ recovery (ISR) |
| Licensed capacity |
Wellfields: 3 million pounds per year Processing plants: 5.5 million pounds per year including Highland mill |
| Total production: 2002 to 2013 | 17.6 million pounds |
| 2013 production | 1.7 million pounds |
| 2014 forecast production | 2.0 million pounds |
| Estimated decommissioning cost | $202 million (US) |
2013 update
Production
Production this year was 6% higher than our forecast and significantly higher than 2012 production, with new mine units contributing to production at Smith Ranch-Highland in 2013, as well as the startup of the North Butte satellite.
Our North Butte satellite began production during the second quarter and produced 300,000 pounds in 2013. We expect to ramp up to a target annual production rate of more than 700,000 pounds per year by 2015 from the North Butte satellite operation. We continue to seek regulatory approvals to proceed with the rest of our expansion plans.
Licensing
The regulators continue to review our licence renewal application. We are allowed to continue with all previously approved activities during the licence renewal process.
Planning for the future
Production
In 2014, we expect to produce 2.0 million pounds.
Managing our risks
We manage the risks listed here.