Business
Energy Fuels Applauds $75 Million Launch of the U.S. Uranium Reserve in Bipartisan 2021 Omnibus Spending Bill
LAKEWOOD, Colo., Dec. 22, 2020 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company"), the largest uranium miner in the U.
About this update from Energy Fuels Inc.
[{"type":"text","content":" LAKEWOOD, Colo., Dec. 22, 2020 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (\"Energy Fuels\" or the \"Company\"), the largest uranium miner in the U.S., applauds the bipartisan, bicameral launch of the U.S. uranium reserve, as $75 million of funding was included in the omnibus appropriation bill passed by both houses of Congress last night. Appropriating funding for a U.S. uranium reserve was one of the main recommendations of the U.S. Nuclear Fuel Working Group, which was directed to make recommendations on securing the domestic capacity to produce uranium and nuclear fuel. This key funding opens the door for the U.S. government to purchase domestically-produced uranium to guard against potential commercial and national security risks presented by our country's near-total reliance on foreign imports of uranium. The bill is expected to be sent to the President for signature in the coming days. Energy Fuels has been the number one uranium miner in the U.S. since 2017, and the projects the Company now owns and operates have produced roughly one-third of all uranium mined in the U.S. since 2006, ranking second among all U.S. uranium producers during that period. Energy Fuels holds three (3) of the most productive uranium facilities in the U.S., which together have a combined licensed capacity to produce over 11.5 million pounds of uranium per year. This includes the White Mesa Mill, located in southeast Utah, which is the only conventional uranium mill operating in the U.S. today, along with the Nichols Ranch and Alta Mesa in situ recovery (\"ISR\") facilities, located in Wyoming and Texas respectively, both of which are on standby. The Company is therefore in an unmatched position and stands ready to supply uranium for the reserve. Mark S. Chalmers, President and CEO of Energy Fuels stated: \"Energy Fuels extends our gratitude to Congress and the Administration for working together on a bipartisan basis to appropriate these funds in 2021 for the creation of a U.S. uranium reserve. We are extremely pleased to see members on both sides of the aisle support a healthy domestic uranium industry, so America cannot be held hostage by foreign adversaries like Russia for the fuel needed to generate clean, carbon-free nuclear energy. This funding also has the potential to create good-paying jobs and economic opportunity...