Energy Fuels applauds Trump’s $1.5bn plan to establish uranium reserve
US-based uranium mining company Energy Fuels CEO Mark Chalmers has hailed President Donald Trump’s commitment to establish a strategic uranium reserve as an “important step” towards addressing the country’s overdependence on uranium imports from Russia and its allies.
To set up the reserve, $150-million a year would be needed over ten years. The reserve is intended to “provide additional assurances of availability of uranium in the event of a market disruption”.
According to a US Department of Energy press release, the new programme will help to re-establish the nation's nuclear fuel supply chain through the domestic production and conversion of uranium.
"President Trump took action to support domestic uranium miners and promote US national and energy security. This is an important step toward addressing the devastating impact of our nation's overdependence on uranium imports from Russia and its allies, which is displacing free market uranium and forcing US mines out of business,” said Chalmers.
In July last year, Trump established the US Nuclear Fuel Working Group to investigate all aspects of nuclear fuel production and "to develop recommendations for reviving and expanding domestic nuclear fuel production”.
“As the owner of the only operating uranium mill in the United States, together with our extensive US uranium production portfolio and existing inventories, at Energy Fuels, we believe we are well-positioned to provide a significant portion of the uranium needed for the reserve.
Energy Fuels has been the largest uranium producer in the US over the past several years. The company owns processing facilities in Wyoming, Utah and Texas has more than 11.5-million pounds of a year licensed uranium production capacity.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation