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Energy Fuels Applauds President Trump's 10-Year, $1.5 Billion Plan to Establish U.S. Uranium Reserve
LAKEWOOD, CO, Feb. 11, 2020 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU; TSX: EFR) ("Energy Fuels" or the "Company"), a leading uranium producer in the U.S.,
About this update from Energy Fuels Inc.
[{"type":"text","content":" LAKEWOOD, CO, Feb. 11, 2020 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU; TSX: EFR) (\"Energy Fuels\" or the \"Company\"), a leading uranium producer in the U.S., applauds President Trump for yesterday announcing a budget that seeks $150 million per year over the next 10 years (totaling $1.5 billion over that timeframe) to establish a strategic uranium reserve intended \"to provide additional assurances of availability of uranium in the event of a market disruption.\" (\"A Budget for America's Future\", Page 46; \"Table 25-1. Federal Budget by Agency and Account, FY-2021 President's Budget Policy\", Page 127). This follows the President's action in July 2019 to establish the U.S. Nuclear Fuel Working Group (NFWG) to investigate all aspects of nuclear fuel production and \"to develop recommendations for reviving and expanding domestic nuclear fuel production,\" of which uranium production is the critical first step. The President's plan to build a strategic uranium reserve \"reflects the Administration's Nuclear Fuel Working Group (NFWG) priorities,\" and notes that the \"NFWG will continue to evaluate issues related to uranium supply chain and fuel supply.\" Further, in a press release issued yesterday, the U.S. Department of Energy stated: \"The new program will help to reestablish the nation's nuclear fuel supply chain through the domestic production and conversion of uranium.\" Mark S. Chalmers, President and CEO of Energy Fuels stated: \"President Trump took action to support domestic uranium miners and promote U.S. 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 U.S. mines out of business. Additionally, the President's Nuclear Fuel Working Group is continuing to undertake a comprehensive review of the fuel cycle, and we look forward to additional actions. \"We also look forward to working with the U.S. government on implementing the programs needed to revive and expand domestic uranium mining. As the owner of the only operating uranium mill in the United States, together with our extensive U.S. uranium production portfolio and existing inventories, at Energy Fuels, we believe we are well-positioned to provide a significant portion of the ur...