NetworkNewsBreaks – Energy Fuels Inc. (NYSE Amer
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Posted On: 09/15/2020 3:11:55 PM
NetworkNewsBreaks – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), Other US Uranium Producers to Benefit from Extended Limitations on Russian Imports
Energy Fuels (NYSE American: UUUU) (TSX: EFR), the largest uranium mining company in the United States, announced that the U.S. Department of Commerce has finalized a deal with Russia to reduce Russian imports through 2040. The Russian Suspension Agreement extends limitations on uranium imports from Russia into the United States and is a key step toward reviving the long-term health of the U.S. uranium mining industry. The agreement was originally scheduled to expire at the end of 2020 and could have resulted in unlimited Russian uranium imports into the country. “Energy Fuels thanks the Department of Commerce for its efforts in reducing U.S. dependence on Russian uranium in the long term,” said Energy Fuels president and CEO Mark Chalmers in the press release. “This is a critical step in restoring U.S. leadership in the global nuclear fuel sector and helping to revive the U.S. uranium mining industry. . . . While the agreement does a good job at blocking Russia’s stated intention to expand its share of the U.S. uranium market over the long-term, it only provides U.S. uranium miners with limited immediate relief. Today’s announcement therefore highlights the importance and urgency of Congress appropriating the funds requested by the U.S. Department of Energy to support the strategic Uranium Reserve recommended by the U.S. Nuclear Fuel Working Group.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Energy Fuels (NYSE American: UUUU) (TSX: EFR), the largest uranium mining company in the United States, announced that the U.S. Department of Commerce has finalized a deal with Russia to reduce Russian imports through 2040. The Russian Suspension Agreement extends limitations on uranium imports from Russia into the United States and is a key step toward reviving the long-term health of the U.S. uranium mining industry. The agreement was originally scheduled to expire at the end of 2020 and could have resulted in unlimited Russian uranium imports into the country. “Energy Fuels thanks the Department of Commerce for its efforts in reducing U.S. dependence on Russian uranium in the long term,” said Energy Fuels president and CEO Mark Chalmers in the press release. “This is a critical step in restoring U.S. leadership in the global nuclear fuel sector and helping to revive the U.S. uranium mining industry. . . . While the agreement does a good job at blocking Russia’s stated intention to expand its share of the U.S. uranium market over the long-term, it only provides U.S. uranium miners with limited immediate relief. Today’s announcement therefore highlights the importance and urgency of Congress appropriating the funds requested by the U.S. Department of Energy to support the strategic Uranium Reserve recommended by the U.S. Nuclear Fuel Working Group.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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