The Texas Commission on Environmental Quality in the US has issued a radioactive material licence for Uranium Energy’s (UEC) Burke Hollow Project.

With the latest licence, the last of the four major permits, the company now has all permissions in place that are required to extract uranium at the project.

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Uranium Energy will develop the Burke Hollow Project as part of its hub-and-spoke strategy, designed for low-cost in-situ recovery (ISR) of uranium.

Final processing is expected to occur at the company’s nearby Hobson Plant which is fully permitted.

“We are in an optimal position to provide the US with a reliable and low-cost source of domestic uranium.”

Uranium Energy president and CEO Amir Adnani said: “The drilling and permitting advancements at Burke Hollow have positioned UEC to create the newest, near-term, production-ready ISR project in the US.

“We are in an optimal position to provide the US with a reliable and low-cost source of domestic uranium.

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“The company’s 2019 drilling campaign is scheduled to begin in early March and will consist of approximately 20 delineation holes and the installation of approximately 120 monitor wells to prepare for development of the project’s first production area.”

The licence boundary, which includes 5,385 acres, covers multiple production areas and authorises construction of the satellite facility.

The Burke Hollow Project also has an 11,000-acre mine area permit, which was approved in December 2016.

In July 2015, the Texas Commission on Environmental Quality issued two final class I disposal well permits for the Burke Hollow project.

Uranium Energy Environmental, Health & Safety vice-president Craig Wall said: “This accomplishment is extraordinarily rewarding for the UEC team, despite very challenging conditions in the uranium sector over the past six years.”