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Ur-Energy and Energy Fuels Jointly File Section 232 Petition with U.S. Commerce Department to Investigate Effects of Uranium Imports on U.S. National Security
Ur-Energy and Energy Fuels Jointly File Section 232 Petition with U.S. Commerce Department...
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[{"type":"text","content":"\n\n\n\nUr-Energy and Energy Fuels Jointly File Section 232 Petition with U.S. Commerce Department to Investigate Effects of Uranium Imports on U.S. National Security\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nDENVER, Jan. 16, 2018\n\n\n\nDENVER, Jan. 16, 2018 /CNW/ -- Ur-Energy Inc. (NYSE American: URG; TSX: URE) (\"Ur-Energy\") and Energy Fuels Inc. (NYSE American: UUUU; TSX: EFR) (\"Energy Fuels\") today jointly submitted a Petition to the U.S. Department of Commerce (\"DOC\") for Relief Under Section 232 of the Trade Expansion Act of 1962 (as amended) from Imports of Uranium Products that Threaten National Security (the \"Petition\").\n\n\n\n \n\n\nImports of uranium from state-owned and state-subsidized enterprises in Russia, Kazakhstan, and Uzbekistan now fulfill nearly 40% of U.S. demand, while domestic production fulfills less than 5%.\nIncreasing levels of nuclear fuel are expected to be imported from Russia and China in the coming years, which will compete directly with U.S. uranium production.\nIn 2017, U.S. uranium production fell to near historic lows due in large part to uranium and nuclear fuel imported from state-subsidized foreign entities; 2018 domestic production is likely to be even lower.\nA healthy uranium mining industry is vital to U.S. national security, because it supplies fuel for nuclear power plants that are a key component of the nation's critical energy infrastructure and essential defense needs.\nUr-Energy and Energy Fuels, both headquartered in Denver, Colorado, are the two main U.S. uranium producers, together supplying more than half of all U.S. uranium in 2017.\nEnergy Fuels and Ur-Energy have filed a Section 232 Petition requesting (1) the Department of Commerce to investigate the effects of uranium imports on U.S. national security and (2) the President to use his authority to adjust imports to ensure the long-term viability of the U.S. uranium mining industry.\nEnergy Fuels and Ur-Energy have proposed sensible remedies that will support a viable domestic uranium mini...