The Bureau of Land Management awarded the ‘record of decision’ approval to the project that is located in Sweetwater County, Wyoming, US,

Ur-Energy had previously obtained approvals from the US Nuclear Regulatory Commission, The State of Wyoming Department of Environmental Quality (WDEQ) and the US Environmental Protection Agency.

The company expects to initiate construction at the Lost Creek Project site in October 2012, and invest $30m to $40m during the next six to nine months.

Lost Creek will operate at a capacity of over seven million pounds of uranium yellowcake (U308) at one million pounds a year, with the first production scheduled for June-September 2013.