Further, the approval also allows it to deploy and operate two rotary vacuum dryers at the facility to further the long-term economics of the project.

The company has purchased two rotary vacuum dryers that have been delivered to the under construction processing plant site. The dryers and auxiliary equipment are expected to be installed before the first production.

With these new dryers, the facility is provided with capacity to produce one million pounds of yellowcake per year from the Lost Creek project as well as one million pounds per year from offsite satellite facilities, the company added.

Ur-Energy, meanwhile, signed an agreement to purchase the only privately held royalty interest in the fully licensed Lost Creek project. It has issued 1,000,000 of its common shares for the royalty holder.

Ur-Energy president and CEO Wayne Heili said: "The exchange of Company shares for the royalty interest allows us to realize a full return on the sale of production from the Lost Creek Project while our previous royalty holder can participate as a shareholder in the successes of the Company as a whole."

In addition, the company has scheduled a required pre-operational inspection with the NRC on 24 June 2013, following which it is keen on commencing production at the mine.