Colorado-based uranium minerUr-Energy Inc.(NYSE:URG) said Wednesday it will build out its Shirley Basin mine in Wyoming, making it the latest company to move projects forward as the price of the nuclear fuel soars.

The development will nearly double the company's permitted mine production capacity to 2.2 million pounds. The project is wholly owned by the company and fully permitted and licensed in Carbon County, Wyoming.

"This decision was based on our growing uranium sales contract book, a strong uranium market price and an expectation of growing demand for uranium as nations increasingly move toward clean...