New uranium company joins the industry in Wyoming

CASPER, Wyo. (AP) — A new company is planning to explore for uranium in Wyoming and hopes to be producing yellowcake in the next few years.

URZ Energy Corp. launched its IPO on a Canadian stock exchange last week.

The company will initially explore the potential of the historic uranium sites, one near Baggs, one in Natrona County and another in the Shirley Basin.

CEO Glen Catchpole tells the Casper Star-Tribune (http://bit.ly/2tkmwve ) that operations at the outset will likely provide around 25 jobs but hopes to eventually generate 100 to 125 jobs.

Catchpole says the company's tentative goal is to produce half a million tons of uranium annually, with that increasing to between 1 million and 2 million tons a year.

The uranium industry has faced a number of challenges in recent years, particularly low prices.

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Information from: Casper (Wyo.) Star-Tribune, http://www.trib.com