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Uranium Energy Corp Welcomes President Trump's 2021 Budget for the Purchase of Domestic Uranium
CORPUS CHRISTI, TX, Feb. 12, 2020 /CNW/ - Uranium Energy Corp (NYSE American: UEC, the "Company" or "UEC") applauds President Trump's "Budget for America's Futu
About this update from Uranium Energy Corp.
[{"type":"text","content":" CORPUS CHRISTI, TX, Feb. 12, 2020 /CNW/ - Uranium Energy Corp (NYSE American: UEC, the \"Company\" or \"UEC\") applauds President Trump's \"Budget for America's Future\" which includes a 10-year, $150M per year program ($1.5 billion total), to purchase U.S. mined uranium for a strategic national Uranium Reserve. In the budget, the Administration noted that: \"Establishing a Uranium Reserve provides assurance of availability of uranium in the event of a market disruption and supports strategic U.S. fuel cycle capabilities. This action addresses immediate challenges to the production of domestic uranium and reflects the Administration's Nuclear Fuel Working Group (NFWG) priorities. The NFWG will continue to evaluate issues related to uranium supply chain and fuel supply.\" In commenting on the Uranium Reserve proposal, US Secretary of Energy Dan Brouillette indicated: \"This is the very beginning of a long process to revitalize in many respects the entirety of the nuclear fuel cycle. What you've seen in the President's budget is a request for $150 million to begin the process of purchasing uranium. But it won't stop there.\" Former Secretary of Energy and UEC Chairman, Spencer Abraham, stated: \"We appreciate the Trump Administration's recognition of the national security risk from U.S. over reliance on imported uranium for 99% of uranium supplied to the commercial nuclear reactor fleet. The establishment of a Uranium Reserve will allow domestic uranium companies to restart some operations and begin to rebuild domestic uranium mining capability. We hope Congress will support the Administration's proposal and funding request. The sooner action is taken the sooner we can put people back to work in the uranium mining sector and begin reducing our overdependence on uranium imports from countries that are not always aligned with U.S. interests.\" President and CEO, Amir Adnani, added: \"The Administration should be applauded for taking steps to revive and expand domestic nuclear fuel production as outlined in President Trump's July 12, 2019 memo establishing the NFWG. We are pleased President Trump has taken the first step to act on the recommendations of the NFWG by initiating a program to purchase U.S. mined uranium for America's strategic Uranium Reserve. This is great news for the domestic uranium mining industry, and ...