Uranium Energy Corp
UEC
Materials
2
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Uranium Energy Corp is a U.S.-based uranium production and exploration company whose core business is the extraction of uranium, a mineral used as fuel for nuclear power generation. The company operates North America's newest uranium mine and controls the largest portfolio of uranium projects in the United States, with production expected to begin at its South Texas sites in early 2026. Its Sweetwater uranium project in Wyoming was the first mining proposal in the state to be fast-tracked under a 2017 executive order. Uranium mining is categorized as an extractive industry, distinct from fossil fuel extraction, as it involves the removal of a non-fuel mineral resource from the earth.
The company's public sustainability materials emphasize community and Indigenous engagement alongside its role in powering sustainable energy futures. However, the extraction of uranium carries inherent environmental and social risks, including potential water contamination, habitat disruption, and impacts on local communities, which are common to large-scale mining operations. The company's expansion is part of a broader uranium boom in western states driven by national energy priorities.
Uranium Energy Corp is a uranium mining company whose primary business is the in-situ recovery (ISR) of uranium, a process that involves injecting solutions into groundwater aquifers to dissolve and extract uranium ore. This method directly impacts groundwater resources, with inherent risks of aquifer contamination and long-term water quality degradation.
The company’s operations have been subject to regulatory permitting and oversight due to these environmental risks. For example, in 2008, the Texas Commission on Environmental Quality (TCEQ) issued a decision regarding Uranium Energy Corp’s permit for its Goliad deposit, highlighting the regulatory process for pollution prevention associated with ISR mining. More recently, in March 2025, the TCEQ issued a final decision letter to the company regarding a Class III Underground Injection Control permit, a key federal and state authorization that governs the injection of fluids for uranium recovery. The company has also received approval from the Wyoming Department of Environmental Quality for its uranium recovery program, as announced in October 2024.
While the company states an aim to minimize environmental impact and uphold high standards, the core activity of in-situ uranium mining is intrinsically linked to documented risks of groundwater contamination and requires ongoing regulatory monitoring to prevent pollution. The business model is centered on the extraction of a resource where the primary documented environmental risk is the potential for causing groundwater contamination and long-term aquifer damage.
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