Business
Ur-Energy and Energy Fuels: Utility-sponsored Paper Misses the Mark On Economic Impact of Remedies Proposed in Section 232 Petition
Ur-Energy and Energy Fuels: Utility-sponsored Paper Misses the Mark On Economic Impact of ...
About this update from Ur-energy Inc.
[{"type":"text","content":"\n\n\n\nUr-Energy and Energy Fuels: Utility-sponsored Paper Misses the Mark On Economic Impact of Remedies Proposed in Section 232 Petition\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, CO, July 17, 2018\n\n\n\nPaper Ignores Data Presented to U.S. Department of Commerce Demonstrating That Industry Can Meet Increased Production Requirements\n\n\n\nDENVER, CO, July 17, 2018 /CNW/ - A utility-sponsored paper released yesterday misses the mark in its analysis of the remedies that Energy Fuels Inc. (NYSE American: UUUU; TSX: EFR) (\"Energy Fuels\") and Ur-Energy Inc. (NYSE American: URG; TSX: URE) (\"Ur-Energy\") proposed in their Section 232 petition to the U.S. Department of Commerce (DOC). For decades, the U.S. has increased its dependence on uranium from state-sponsored enterprises subject to neither environmental nor worker safety standards. \n\nEnergy Fuels and Ur-Energy welcome all interested parties, including utilities, to carefully analyze the economic impacts of the proposed remedies. We believe the remedies are sound and will result in minimal impacts to the U.S. nuclear utility industry and consumers of electricity, while also bolstering U.S. national security. However, the utilities' analysis misses the mark on several fronts.\n\nMost critically, the paper ignores evidence that Energy Fuels and Ur-Energy included in their petition for relief under Section 232 of the Trade Expansion Act of 1962 demonstrating that the industry has sufficient licensed capacity and resources – and all at a cost consistent with the unsubsidized global standard – to meet U.S. production requirements if the quotas recommended in the petition are imposed. The U.S. uranium industry has produced at well over those levels in the past, and the proposed remedies would allow the industry to get back to those production levels at minimal cost to the nuclear utility industry.\n\nThe paper also fails to address the serious threat to U.S. national security caused by our dependence on Russia and its allies for a significan...