** Shares of Uranium Energy UEC.A rise 2.3% to $9.42

** Company's Sweetwater Uranium Complex in Wyoming has been selected by the U.S. government for a fast-tracked process of approval to add in-situ recovery capability

** In-situ mineral extraction combines drilling, rock fracturing and chemical leaching directly at the drill site

** UEC adds that it wants approval to use in-situ recovery mining methods within the existing permit boundary and to expand the boundary to include ISR-amenable deposits on nearby federally managed lands

** "On completing this tack-on permitting initiative, Sweetwater will be the largest dual-feed uranium facility in the United States, licensed to process both conventional ore and ISR resin," said CEO Amir Adnani

** "The designation of FAST-41 status to UEC's Sweetwater plant allows for quicker realization of its targeted synergies from UEC's acquisition of Rio Tinto's Wyoming assets last year," brokerage TD Cowen says

** Including session's moves, stock up 40.8% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))