Uranium Energy (UEC.US) announced on Tuesday the establishment of a new subsidiary, United States Uranium Refining & Conversion Corp (UR&C), aimed at exploring the feasibility of constructing a modern uranium refining and conversion facility within the United States.

Amir Adnani, President and CEO of Uranium Energy, stated: "Advancing UEC to become the only vertically integrated company in America with full-chain capabilities spanning uranium mining, processing, refining, and conversion represents not only a significant business opportunity but also a strategic imperative for the United States." He further noted: "We have established UR&C as a subsidiary to advance this initiative in the most financially optimal manner, including pursuing strategic partnerships and direct investments."

The company has initiated discussions regarding potential site locations, conducting evaluations around factors including logistics conditions, labor supply, public acceptance, local incentive policies, and synergies with other nuclear fuel cycle facilities.