Western Uranium & Vanadium Corp. (CSE: WUC, OTCQX: WSTRF) has outlined a series of significant accomplishments from 2024, reflecting its commitment to enhancing uranium and vanadium production capabilities. The company has strategically positioned itself to meet the growing demand for these critical minerals.
In 2024, Western made notable strides in improving its mining operations. The company expanded its workforce by recruiting experienced technical and mining personnel, which is crucial for driving productivity. Upgrades to the mining fleet, including new equipment and vehicles, have been implemented to minimize downtime. The expansion of maintenance facilities and hiring additional mechanics have further streamlined operations, while infrastructure improvements, such as extending utilities deeper into the mine, have opened up new areas for future development.
Efficiency gains have also been realized through the installation of push plates on loaders and increasing the capacity of water trucks. These enhancements are expected to significantly boost productivity at the Sunday Mine Complex (SMC).
Western has bolstered its asset portfolio by acquiring two permitted mines through the Rimrock Joint Venture and staking additional mining claims. The acquisition of a previously permitted mineral processing site is set to enhance the company’s capacity for processing mineral resources, particularly near the SMC.
The SMC saw substantial advancements during 2024, with a total of 747 feet of drifting completed. This included significant work on both the Leonard and Clark Deposits, where newly discovered mineralization zones provided valuable data for future exploration. The company also undertook considerable underground infrastructure development to support these primary drifting projects.
Western reported a total of 20,336 feet of drilling in 2024, predominantly focused on the GMG Deposit. A scientific approach was adopted to ensure reliable data collection, including twinning holes and conducting assays. Preliminary results indicated five high-value mineralization zones within the GMG drift, which will be integral to Western’s mine development strategy.
To ensure a steady feedstock for its processing plants, Western has initiated baseline data collection at its Maverick Minerals Processing Plant in Utah and plans to start similar efforts at the Mustang Mineral Processing Facility in Colorado. Site upgrades are underway to support operations, including road grading and installation of monitoring equipment. A preliminary engineering study for a base-case mill design is also completed, with an optimization study expected in early 2025.
Western is finalizing an Ore Purchase Agreement with Energy Fuels to deliver mined material from the SMC for uranium milling at the White Mesa Mill—the only operational conventional uranium/vanadium mill in the U.S. This agreement is anticipated to commence in early 2025.
The uranium market experienced volatility in 2024 but remains fundamentally strong due to rising demand and geopolitical factors affecting supply. The U.S. ban on Russian uranium imports will likely exacerbate supply-demand imbalances, presenting opportunities for companies like Western that are prepared to scale production.
As Western transitions from a developmental phase to active production, it aims to meet critical uranium supply needs driven by global energy demands and climate change initiatives. The company’s strategy includes maximizing production capacity while delivering mined materials into favorable long-term contracts.
Western Uranium & Vanadium Corp., with its flagship Sunday Mine Complex and additional projects in Colorado and Utah, is poised for growth as it continues to ramp up high-grade uranium and vanadium production.
