IsoEnergy of Saskatoon, Saskatchewan, Canada, has announced that it is reopening its Tony M uranium mine in Kane County. Based on uranium market conditions, the company hopes to restart production in 2025.
IsoEnergy said its decision to reopen the mine was driven by rising uranium prices is the U.S. and by Energy Fuels Inc.’s decision to restart uranium refining at its White Mesa Mill near Moab.
Tony M is one of three past-producing, fully permitted uranium mines in Utah owned by IsoEnergy and produced nearly 1 million pounds of U3O8 during two different periods of operation from 1979-84 and from 2007-08. The mine was acquired by IsoEnergy as part of its merger with Consolidated Uranium Inc., completed in December.
IsoEnergy said it plans to reopen the main decline into the mine and gain underground access by the end of the first half of this year.
“This critical step is expected to facilitate the assessment of the mine’s underground conditions, enable direct analysis of the uranium mineralization in place, and allow for the collection of necessary data required to prepare an efficient mine plan,” the company said in a release.