Photo by: US Department of Energy
The US is one step closer to funding and implementing the US uranium reserve, which is aimed at stimulating growth in the domestic uranium mining industry.
The Senate Committee on Appropriations on Wednesday released drafts of 2021 funding measures and subcommittee allocations that include $150-million for the US uranium reserve.
The Energy and Water Development Subcommittee Bill highlights that the uranium reserve programme received its budget request. If passed into law, it would provide full funding for the Department of Energy to begin the funding required to stimulate growth in the domestic uranium mining industry.
The US has the world's largest reactor fleet of 96 operable reactors, yet its uranium mining industry is struggling. Production has been on a steady decline since the early 1980s as power plant operators replaced domestic uranium production with less expensive imports.
Under the uranium reserve programme, the Office of Nuclear Energy (NE) would buy uranium directly from domestic mines and contract for uranium conversion services. Te DoE has previously stated that the new stockpile is expected to support the operation of at least two US uranium mines, reestablish active conversion capabilities, and ensure a backup supply of uranium for nuclear power operators in the event of a market disruption.
The uranium reserve programme forms part of the strategy for 'Restoring America’s Competitive Nuclear Energy Advantage, which the DoE released this year.
Uranium miner CEO Amir Adnani has hailed the bipartisan action as “historic”. “We are optimistic the next step of House and Senate conferencing, will go smoothly and result in a final Bill before the end of the year.”