Key facts
- Urenco USA plans to expand its New Mexico uranium enrichment facility by nearly 50%.
- The expansion will add 2.1 million SWU of annual enrichment capacity, starting in 2032.
- Ur-Energy rose 22.8%, Uranium Energy gained 13.6%, and other nuclear stocks also saw significant gains.
- The US ban on Russian uranium imports, fully effective in 2028, increases demand for domestic supply.
- Three Mile Island received federal approval to restart in 2027, aiming to power Microsoft data centers.
Uranium and nuclear-related stocks experienced a significant surge on Tuesday, driven by multiple positive developments in the sector. Urenco USA announced plans to expand its commercial uranium enrichment facility in Eunice, New Mexico, by nearly 50%. This expansion will add 2.1 million separative work units (SWU) of annual capacity, bringing the total to 6.4 million SWU, with new centrifuge cascades coming online between 2032 and 2036. The project, a multibillion-dollar investment backed by long-term contracts, aims to address the growing demand for domestic uranium supply, particularly in light of the US ban on Russian uranium imports which becomes fully effective in 2028. In parallel, federal energy regulators approved the restart of the Three Mile Island nuclear plant, targeted for 2027, which is expected to supply power to Microsoft data centers. These events, combined with ongoing supply pressures, fueled broad gains across uranium and nuclear stocks, with Ur-Energy, Uranium Energy, Energy Fuels, and Oklo among the notable risers.