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Department of Commerce Submits Uranium Section 232 Report to President Trump
Department of Commerce Submits Uranium Section 232 Report to President Trump Canad...
About this update from Ur-energy Inc.
[{"type":"text","content":"\n\n\n\nDepartment of Commerce Submits Uranium Section 232 Report to President Trump\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nDENVER, April 16, 2019\n\n\n\nDENVER, April 16, 2019 /CNW/ - Ur-Energy Inc. (NYSE American: URG; TSX: URE) (\"Ur-Energy\") and Energy Fuels Inc. (NYSE American: UUUU; TSX: EFR) (\"Energy Fuels\") are pleased that on April 14, 2019 the U.S. Department of Commerce (\"DOC\") submitted a report to the White House on DOC's investigation into the effects of uranium imports on U.S. national security. The president now has up to 90 days from April 14 to act on the DOC's recommendations.  \n\n \n \n\n \nWe have not seen the DOC report, which is expected to remain confidential, but we believe the facts are clear.\nUranium imports, increasingly from state-owned enterprises in adversarial countries like Russia and its allies, created a stark national security crisis. More than 60 percent of newly mined uranium around the world now comes from state-owned enterprises that unfriendly nations control. The once robust American uranium mining industry is disappearing because a flood of state-subsidized imports has made fair competition impossible. \nThe U.S. is the world's largest consumer of uranium. It is a vital element in the fuel for our nuclear Navy and the nuclear power plants that provide 20 percent of our electricity and nearly 60 percent of our clean, carbon-free electricity. Yet, in 2019, our domestic industry is expected to produce less than 1 percent of the uranium U.S. utilities need to generate electricity. The rest will come from other countries and increasingly from our adversaries. \nWhile uranium imports from our adversaries increase, production from our allies is plummeting. Uranium mining companies in other free market countries like Canada and Australia are also suffering because of state-subsidized production. Only one mine still operates today in Canada and production in Australia is declining. \nThe world knows that Russia weaponizes its natural resources and energy industries. We must not allow the U.S. to be...